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1 May, 17:06

The situation in which a person places greater value on a good as fewer and fewer people possess it is called the

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  1. 1 May, 18:06
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    The correct answer is: Snob effect.

    Explanation:

    The Snob effect is a phenomenon that tries to explain why the demand for a good or service increases in the high-income sector while it decreases substantially in the low-income sector. This scenario is created when people need access to rare or exclusive goods or services.
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