Economics · Consumer Behaviour & Goods
A luxury good for which demand increases as its price rises, primarily due to its prestige value and status-signalling nature, is known as a:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Giffen Good
- 2Veblen Good✓
- 3Normal Good
- 4Necessity Good
Correct answer
Veblen Good
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