Meaning of Veblen effect | Babel Free
Definitions
Conspicuous consumption.
Examples
“The Veblen effect, unlike the other two effects, is a response by consumers to the ostentatious price of the good rather than to the quantity others are buying. It is the effect generally known as conspicuous consumption.”
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.