Asked in EconomicsAcronyms & AbbreviationsDefinitions
Acronyms & Abbreviations
What is the meaning of snob effect in economy?
Asked in Georgia (US State)
What effect does Technical College in Georgia has on the economy?
Asked in Economics
What is Bandwagon Effect and Snob Effect. How do they effect the Demand for goods?
A psychological phenomenon whereby people do something primarily because other people are doing it, regardless of their own beliefs, which they may ignore or override. The bandwagon effect has wide implications, but is commonly seen in politics and consumer behavior is BANDWAGON effect where as Situation where the demand for a product by a high income segment varies inversely with its demand by the lower income segment.is SNOB EFFECT