The situation in which a person places greater value on a good as more and more people possess it is called the
A) Bandwagon Effect.
B) Greater Value Effect.
C) Snob Effect.
D) Behavioral Effect.

Question

Quizplus · Accepted Answer

The Bandwagon Effect describes a situation where the demand for a good or service increases as more people own or engage in it, often influenced by peer pressure, trends, or the desire to fit in.

The Situation in Which a Person Places Greater Value on a Good