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Conspicuous goods are also called as:
- a)Veblen
- b)Snob
- c)Prestigious
- d)All of the above
Correct answer is 'D'. Can you explain this answer?
Most Upvoted Answer
Conspicuous goods are also called as:a)Veblenb)Snobc)Prestigiousd)All ...
Conspicuous goods are also called as:
1. Veblen
2. Snob
3. Prestigious
Explanation:
Veblen goods are the goods that have a high price tag, which makes them a status symbol for the consumer. The more the price, the more desirable the product becomes. These goods are also known as status goods.
Snob goods are the goods which are desirable because they are exclusive and not easily accessible to everyone. These goods are used as a way to differentiate oneself from others.
Prestigious goods are the goods which are desirable because of the brand name associated with them. These goods are often associated with high quality and luxury.
Therefore, all three terms; Veblen, Snob, and Prestigious are used interchangeably to describe the conspicuous goods.
1. Veblen
2. Snob
3. Prestigious
Explanation:
Veblen goods are the goods that have a high price tag, which makes them a status symbol for the consumer. The more the price, the more desirable the product becomes. These goods are also known as status goods.
Snob goods are the goods which are desirable because they are exclusive and not easily accessible to everyone. These goods are used as a way to differentiate oneself from others.
Prestigious goods are the goods which are desirable because of the brand name associated with them. These goods are often associated with high quality and luxury.
Therefore, all three terms; Veblen, Snob, and Prestigious are used interchangeably to describe the conspicuous goods.
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Community Answer
Conspicuous goods are also called as:a)Veblenb)Snobc)Prestigiousd)All ...
Veblen goods, snob goods and prestigious goods are superior quality goods and convey the same meaning. Hence, each option is a synonym of each other. Hence answer is D.
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Conspicuous goods are also called as:a)Veblenb)Snobc)Prestigiousd)All of the aboveCorrect answer is 'D'. Can you explain this answer?
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