Скачать или смотреть What is Snob Effect? | Economy for UPSC | GS Foundation | Tehleel Shah | Edukemy | UPSC CSE

The snob effect is a phenomenon described in microeconomics as a situation when you are buying a particular good because few others have it that means desire to possess a unique commodity having a prestige value. For Examples - increase in the price of smartphones does not reduce its consumption because majority of the population owning a smartphone will lead the individual buy a smartphone.

In the video, Tehleel Shah (Faculty, Edukemy) explains the snob effect and examples in detail.

The video will be useful for all UPSC CSE aspirants.
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