The Possibility of Multiple-Peaked Preferences Cannot Be Ruled Out

question 17

Multiple Choice

The possibility of multiple-peaked preferences cannot be ruled out.

• A) True
• B) False
• C) Uncertain

---

Definitions:

Conspicuous Consumption

The practice of purchasing goods or services for the direct purpose of displaying wealth or social status rather than for practical reasons.

Leisure Class

A social class that has the means to live without the necessity for active economic productivity, often associated with conspicuous consumption and leisurely lifestyles.

Veblen

Pertains to theories or concepts related to economist Thorstein Veblen, especially concerning conspicuous consumption and social status.

Counterfeit Products

Imitations of genuine products that are made to deceive consumers into thinking they are purchasing authentic items.