New Click here to Attempt NABARD Scholarship Test

    Question

    Goods whose demand increases as their price rises are

    known as?
    A Inferior goods Correct Answer Incorrect Answer
    B Veblen goods Correct Answer Incorrect Answer
    C Normal goods Correct Answer Incorrect Answer
    D Luxury goods Correct Answer Incorrect Answer

    Solution

    Veblen goods are luxury items for which demand increases as their price rises, as higher prices increase their perceived value or status.

    Practice Next

    Relevant for Exams: