General Knowledge · Economics Terms
What is the 'Demonstration Effect' in Economics?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Shopping together in a group
- 2Returning a faulty product to the seller
- 3Imitating the consumption patterns of higher-income groups or peers✓
- 4Testing a product before buying
Correct answer
Imitating the consumption patterns of higher-income groups or peers
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