EFFECT OF DEMAND THEORY

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