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From the world of economics are Veblen and Giffin goods - https://en.wikipedia.org/wiki/Veblen_good https://en.wikipedia.org/wiki/Veblen_good and https://en.wik
by rogerbinns 12y ago
From the world of economics are Veblen and Giffin goods - https://en.wikipedia.org/wiki/Veblen_good https://en.wikipedia.org/wiki/Veblen_good and https://en.wikipedia.org/wiki/Giffen_good https://en.wikipedia.org/wiki/Giffen_good
Both are examples where normal pricing and demand doesn't match (normal meaning demand goes down as price increases). It also explains why people don't just buy the cheapest product that meets most of their needs.