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Shoppers outside of a store of a well-known luxury brand that counts as a Veblen good, meaning popularity increases as price increases.

The Economics of Social Status: Why We Pay More for Less

Veblen goods are luxury goods that violate the Law of Demand, which states that quantity demanded of a good falls as price rises. Veblen goods actually become more popular as prices increase. Why is this the case? Can the purchase of such goods be reasonable?...
5 min read
Savings
Definitions

Savings

Saddique Ansari • January 29, 2020 • 1 min read

Author bio

Savings – definition

Saving is income received by households that is not spent nor paid to the government in taxes. Savings are a withdrawal (or leakage) out of the circular flow of income.

savings diagram


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Savings gap

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Satisficing

Main Economic Implications of SWOT Analysis for Web Development Company

Main Economic Implications of SWOT Analysis for Web Development Company

How can a company make smarter decisions in a fast-changing business environment? A SWOT analysis offers a great starting point. For compani...
7 min read

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