--%>
Assignment Help - homework help

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.

   Related Questions in Microeconomics

  • Q : Changes in price influencing supply

    Describe how changes in the prices of other products influence the supply of a specific product.

    		•
  • 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 : Problem on Product Differentiation Most

    Most of the mass advertising is planned to: (1) Give accurate information on product and price quality. (2) Boost output to conform to the consumer preferences. (3) Alter the consumer preferences. (4) Provide free TV entertainment and remain newspaper

    		•
  • Q : Resources to escape state of destitution

    When an individual or family lacks adequate resources to escape a state of destitution, their circumstances are described as: (1) involuntary poverty. (2) relative poverty. (3) a vicious cycle of poverty (4) institutional poverty. (5) a culture of pov

    		•
  • Q : Typical purely competitive firm in

    The typical purely competitive firm: (w) is both a price maker and a quantity adjuster. (x) operates within the inelastic range of the demand curve. (y) should decide how much to produce at prices set through the market. (z) tries to maximize total sa

    		•
  • Q : Problem regarding rise in quantity

    Can someone please help me in finding out the accurate answer from the following question. The raise in the quantity supplied of frozen vegetarian lasagna would be most probable to outcome from raise in the: (i) cost of ingredients in the vegetarian lasagna. (ii) Numb

    		•
  • Q : Compare average household income How

    How you compare the average household income of the different countries?

    		•
  • Q : What is fiscal deficit Fiscal deficit :

    Fiscal deficit: When TE (RE + CE) > TR (RR + CR) of the government, excluding borrowing. It is termed as fiscal deficit.

    		•
  • Q : Market supply Schedules for a good The

    The market supply schedule for a resource or good shows the: (i) Points in time if production is scheduled for completion. (ii) Amounts sellers wish could be given at prices exceeding the costs. (iii) Maximum quantities which will be offered for sale at particular pri

    		•
  • Q : Statement of Featherbedding I have a

    I have a problem in economics on Resources and Products Flow Model. Please help me in the following question. The featherbedding is: (1) Practiced through only migratory ducks and geese. (2) Practiced through female song birds on each spring. (3) Increasingly substitu

    		•