Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Existence of which goods is described by rules of consumer choice (indifference function, budget constraint line): Veblen or Giffen?
Answer
Giffen (the inferior ones); Veblen goods like Gucci bags are not described by these rules of consumer choice.
Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Existence of which goods is described by rules of consumer choice (indifference function, budget constraint line): Veblen or Giffen?
Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Existence of which goods is described by rules of consumer choice (indifference function, budget constraint line): Veblen or Giffen?
Answer
Giffen (the inferior ones); Veblen goods like Gucci bags are not described by these rules of consumer choice.
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pdf
owner:
iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p55
Summary
| status | not learned | | measured difficulty | 37% [default] | | last interval [days] | |
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| repetition number in this series | 0 | | memorised on | | | scheduled repetition | |
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Details
No repetitions