sentence: Veblen goods are often also positional goods.
sentences_before: In economics, a 'Velblen good' is a good whose preference and consumption increases with its price. This is against the Law of supply and demand. The goods are named after Thorstein Veblen, who first described the effect of conspicuous consumption in 1899.
concept_name: veblen good
headings: Veblen good
categories: Goods