Some Products Lose Their Buying Value

Some Products Lose Their Buying Value

Some products lose their buying value if they are put on a discount or an offer. They have an upward-sloping demand curve and are mostly looked upon as a status symbol. These products are called Veblen Goods, and this psychological phenomenon is called the ‘Veblen Effect’.

Study Link – https://en.wikipedia.org/wiki/Veblen_good

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Alphonse Lamartine

Experienced Editor with a demonstrated history of working in the online media industry. Skilled in Content Writing, Content Curation, Proofreading, Social Media, and Editing. You can find me writing mostly about relationship issues at work.View Author posts

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