Market and Types of Goods · UPSC CDS/OTA · Question 9 of 30

Market and Types of Goods – Question 9

Step-by-step solution. Market and Types of Goods for UPSC CDS/OTA.

Topic
Market and Types of Goods
Subject
General Studies
Difficulty
Medium
Solve Time
45–60 sec

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Q · Market and Types of GoodsMedium · 45s

Which one of the following best describes Veblen goods?

TopicMarket and Types of Goods
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min

Step-by-Step Solution

The complete worked solution.

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Veblen goods are status symbols — a higher price may increase demand.

Final Answer: Option C — Luxury goods with conspicuous consumption
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Market and Types of Goods Question 9 – UPSC CDS/OTA