Veblen Goods Examples

Veblen goods are those goods, the demand for which increases as the price of those goods increases and it falls when the price of it falls. Hence Veblen goods are an exception to the law of demand in economics which states that as he price of good falls the demand for it increase and vice versa. In simple words Veblen goods are bought because they are perceived to be high status goods.  Given below are some of the examples for Veblen goods –

  1. Luxury cars like Ferrari and Mercedes which are bought because they are expensive.
  2. Diamonds or precious stones
  3. Antique collection of items
  4. Designer clothes and handbags
  5. Cosmetics items like perfumes
0 comments… add one

Leave a Comment

Related pages

how to do intraday tradingprofit ratiosconglomerate diversification examplesdisadvantages of comparative advantage theorydifference between consignor and consigneepayback analysis definitiondisadvantage of socialismunitary price elasticity of demanddcf approachadvantage of socialismstate and explain the law of diminishing marginal utilitynon cumulative preference sharefactors influencing income elasticity of demandadvantages of monopolisticcompetitive pricing advantages and disadvantagesan example of a vertical mergerdefine consigneecharacteristics of process costingadvantages of federalismhorizontal analysis of financial statementexplain debenturescharacteristics of capitalist economic systemskim the marketconsigner meanstypes of dividend policy theorywhat is a derivative marketdeclining depreciation methodnondurable goods listdisadvantages of privatisationadvantages of capitalist economydisadvantages of m&acrr slrsubstitutes goods examplesexample of conglomeratecapital budgeting decisions examplesaccelerated method of depreciationstudent loan disadvantageswhat is a floating currencydifference between demat and trading accountcfa full formfactoring in financial managementskimming pricing strategy advantages and disadvantageseconomic systems advantages and disadvantagespaid interest on loan journal entrymonopolistic competition companyadvantages and disadvantages of rural and urban lifesimilarities between sales and marketingdefine bartering systemhedgers in derivative marketexample of accumulated depreciationauthoritarian leadership advantagespromissory note bill of exchangedifference between induced investment and autonomous investmentdefinition compensatingscarcity examples in economicsexplain the law of diminishing returnexample of prestige pricingconsignee vs consignorfund flow statement definitionpayback financedefinition of current liabilitiestypes of price elasticity of demand with graphsdisadvantages of living in mexicoadvantages and disadvantages of evadisadvantages of importingdemerits of international tradehow to fill out a checking withdrawal slippublic goods pptskim strategyincome effect substitution effectinvestment appraisal payback period