Thus, a Veblen good has an upward-sloping demand curve rather than the typical downward-sloping curve. A Veblen good is generally a high-quality, coveted product. This stands in contrast to a ...

This is reflected in microeconomics via an upward shift in the downward-sloping demand curve. This effect, however, can vary depending on the availability of substitutes and the good's elasticity ...

The aggregate demand curve is a downward sloping curve, indicating that when the price level increases, the total spending of an economy decreases. Consumption levels fall because people spend ...