Veblen good

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00:56 Aug 7, 2020
English to Albanian translations [PRO]
Bus/Financial - Economics
Additional field(s): Business/Commerce (general), Finance (general), Marketing / Market Research
English term or phrase: Veblen good
Definition from TapRun.com:
A product for which a higher price stimulates increased customer demand. Such items are used to advance the status of the purchaser and provide value other than direct functionality. Common examples include art, wine and jewelry.

Example sentence(s):
  • Additionally, whether or not foreign workers view Saudi Arabia’s labor market as a Veblen good has different repercussions for the policy’s future effectiveness. For instance, if we assume that the policy’s primary objective has been to curb foreign worker flows into the country, then the policy did not accomplish its goals (yet). Georgetown Public Policy Review
  • A Veblen good does not adhere to the traditional laws of price and demand. Below a certain price, the price/demand dynamics are consistent with conventional products – higher prices result in a lower demand. However, above a certain price, this relationship reverses, and demand rises along with price increases. Forbes
  • UK housebuilders are marching upwards after Berkeley hiked its shareholder bung. The builder of Veblen-good towerblocks in subprime neighbourhoods will return an extra £455m over the next two years, on top of a £280m per annum already announced. It’ll be in a tax-streamlined B and C share structure that supersedes the current £140m dividend cost, with £500m going back to investors in March 2020 at 400p per share and in March 2021 at 440p. Financial Times Alphaville
Glossary-building KudoZ




Question posted on behalf of translation team:
GBK economics and finances specialistsGBK economics and finances specialists


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Summary of translations provided
4mallra luksoze, mallra Veblen
Mirela Lluka


Discussion entries: 5





  

Translations offered


6 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
mallra luksoze, mallra Veblen


Definition from own experience or research:
Mallra luksoze ose mallra Veblen quhen ato mallra, zotërimi i të cilave, rrit statusin shoqëror të personit. Sa më i lartë çmimi i tyre aq më e lartë kërkesa. Këtu hyjnë objektet e artit, stolitë e çmuara, etj.

Example sentence(s):
  • Një mall luksoz (Veblen) nuk i bindet ligjeve tradicionale të kërkesës së tregut. Nën një nivel çmimi të caktuar, dinamika e varësisë çmim/kërkesë tregu përputhet me produktet e zakonëshme - rritja mbi këtë nivel çon në ulje të kërkesës. Mirëpo mbi një nivel çmimi të caktuar, kjo varësi ndryshon kah dhe kërkesa rritet paralelisht me rritjen e çmimit. - Forbes  
Mirela Lluka
Greece
Local time: 10:45
Native speaker of: Native in AlbanianAlbanian
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