EFFECT OF DEMAND THEORY

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1.Bandwogon Effect is also known as :
1.Demonstration Effect 
2.Richet Effect ✔
3. 1 or 2
4.None

2.Veblen Effect is also know as :
1.Demonstration Effect ✔
2.Richet Effect 
3. 1 or 2
4.None

3.When poor person has BMW car or RADO Watch which example of :
1.Bandwagon Effect
2.Snob effect
3.Veblen Effect
4.None✔

4. Why Snob effect is negative externalities ?
1.Rare Goods & service 
2.Full right  to control the product production 
3.Less quantity of products available 
4.All✔

5.Which type of elasticity is function on Veblen Effect?
1.e>1✔
2.e<1
3.e=0
4.None

6. Who was discussed about  Bandwagon, Veblen & Snob effect clearly ?
1.Kuzenets
2.Robinason
3.Liebenstin✔
4.None

7.Which one is not related to external effect on Utility ?
1.Snob Effect
2.Bandwagon Effect
3.Veblen Effect
4.Richet Effect in production✔

8.Which is example of positive externalities? 
1.Bandwagon Effect✔
2.Veblen Effect
3.Snob Effect
4.None

9.Snob effect Elasticity is:
1.e>1
2.e<1✔
3.e=0
4.None
10.Bandwagon Effect elasticity is :
1.e>1✔
2.e<1
3.e=0
4.None


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