snob effect
Noun
Meaning
snob effect (plural snob effects)
(economics) The situation where the demand for a certain good by individuals of a higher income level is inversely related to its demand by those of a lower income level.
Noun
snob effect (plural snob effects)
(economics) The situation where the demand for a certain good by individuals of a higher income level is inversely related to its demand by those of a lower income level.