Positional Goods, Consider things like yachts, tattoos, mansions, Harley-Davidsons or

Positional Goods

Consider things like yachts, tattoos, mansions, Harley-Davidsons or bling. Whenever the satisfaction derived from the good depends just weakly on an intrinsic attributes of the good and much strongly on how the good signals group membership or the status, power or social class of the consumer, the individual who purchases such a good is purchasing a: (1) Positional good. (2) Veblen good. (3) Snob good. (4) Bandwagon good. (5) Luxury good.

Choose the right answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Monopoly Profits by Capitalization

People who seek monopoly profits by buying the assets of successful monopolists will probably: (w) receive only normal returns onto the investment. (x) realize capitalized profits (y) attain monopoly economic profits. (z) thwart competition by innovating procedures of

Q : Normative Economics and Income

The fundamental economic question probably to generate answers heavily based into debatable value judgments is: (1) what goods will society produce? (2) how will resources be used to yield the goods society chooses to produce? (3) to whom will the goo

Q : Define autonomous investment Autonomous

Autonomous investment: Investment that is made up without depending on the gain of the enterprise.

Q : Explain Subsidiary function Elucidate

Elucidate the Secondary or Subsidiary function? Answer: 1) Standard of deferred payments: Money is executing as deferred Payment

Q : Price discrimination in markets Price

Price discrimination is probably in markets: (w) for medical services. (x) for wheat sold by farmers. (y) for bread sold by grocers. (z) where all consumers have identical demand curves. Can anybody suggest me the

Q : Kinked demand curve of an oligopoly

The kinked demand curve of an oligopoly model supposes: (w) price increases will be followed. (x) price increases will be matched. (y) price declines will be matched. (z) any price changes will be matched.

Q : Decrease transportation and transaction

The value of land is attributable to the ways exactly sites decrease transportation and other transaction costs are termed as: (1) location rents. (2) transportation rents. (3) short term quasi rents. (4) parcel posts. (5) transaction

Q : Problem Regarding to Lorenz Curves A

A Lorenz curve is a way to demonstrate: (w) that the U.S. has perfect equality of income distribution. (x) a mirror image of a production-possibility curve. (y) the percentages of families receiving different percentages of income. (z) differences wit

Q : Shifting of labor demand for Labor The

The labor demand will shift due to the modifications in all of the given except: (1) Prices of other resources. (2) Prices of the output. (3) MPP (4) Salaries. Can someone please help me in finding out the accurate answer from the

Q : Elimination of discrimination In the

In the following diagram, the elimination of discrimination is best depicted by: 1) a move from C to E. 2) an inward shift of the production possibilities curve. 3) a move from A to D. 4) a move from E to C.

Discover Q & A

Leading Solution Library

Avail More Than 1421644 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1953299
Asked

3,689

Active Tutors

1421644

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment