← Back to context Comment by g4d 7 years ago TIL what a Veblen Good is. Thanks 2 comments g4d Reply celeritascelery 7 years ago To save others the googling> Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. ricksharp 7 years ago TIL what TIL means (also Veblen Good). So today I learned 2 things.
celeritascelery 7 years ago To save others the googling> Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.
To save others the googling
> Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.
TIL what TIL means (also Veblen Good). So today I learned 2 things.