WAEC - Economics (2015 - No. 13)
if the price of a commodity Z falls and a consumer buys less of it, then commodity Z is a
necessity
good of ostentation
normal good
giffen good
הֶסבֵּר
An ostentatious Good is a good where demand is often greater when the price of it is higher. These are goods we buy in order to 'keep up with the Jones'. The good may give little actual utility apart from the pride of owning something very few other people own.