Question
“Higher the price of certain luxurious articles,
higher will be the demand” This concept is calledSolution
Veblen Goods are a class of goods that do not strictly follow the law of demand, which states that there exists an inverse relationship between the price of a good or service and the quantity demanded of that good or service. Veblen goods violate the law of demand after prices have risen above a certain level.
Who developed the first lab-grown fish meat in India?Â
Which country is included in India’s nomination for the UNESCO World Heritage List for 2024-25?
Which Indian port became the leading cargo-handling major port in the fiscal year 2023-24?Â
Which organization has REC Limited signed an MoU with to finance infrastructure projects?
When is the Indian Coast Guard Day celebrated?
Who is the youngest Indian billionaire according to the Forbes 38th Annual World’s Billionaires List 2024?
What is the estimated cost for the new joint small satellite project between ISRO and Mauritius?Â
Who received the Balbir Singh Sr. Trophy at the Hockey India Awards 2023?
What is the total cost of the newly developed Sabroom ICP Land Port in Tripura?
What is the projected GDP growth rate for India for FY25 according to the Asian Development Bank (ADB)?