In economics, a "Veblen
good" is an item which people buy in greater quantity when the price goes
to the Law of Supply and Demand, when the price of an ordinary item goes up,
demand drops, i.e. people buy fewer of them. A Veblen good is a luxury item to which status is
attached, such as a designer outfit or luxury car. As the price of such
an item increases, its prestige increases, which makes the item that much more
desirable. Therefore, as the price increases, the
demand also increases, and more of these items are sold.