snob effect 1
noundomain: natural phenomenon
EnWordnet [ver.5.0]
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EnglishDefinition
a phenomenon referring to the situation where the demand for a certain good by individuals of a higher income level is inversely related to the demand for the good by individuals of a lower income level.
Examples
- 1.Collectors within a specific field can suffer from snob effect, searching for the rarest and often most expensive collectibles.
