Last visit was: 13 Nov 2024, 19:25 It is currently 13 Nov 2024, 19:25

Close

GRE Prep Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GRE score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel
SORT BY:
Date
Verbal Expert
Joined: 18 Apr 2015
Posts: 29955
Own Kudos [?]: 36212 [0]
Given Kudos: 25903
Send PM
avatar
Manager
Manager
Joined: 27 Feb 2017
Posts: 188
Own Kudos [?]: 148 [0]
Given Kudos: 0
Send PM
Verbal Expert
Joined: 18 Apr 2015
Posts: 29955
Own Kudos [?]: 36212 [0]
Given Kudos: 25903
Send PM
avatar
Manager
Manager
Joined: 27 Feb 2017
Posts: 188
Own Kudos [?]: 148 [2]
Given Kudos: 0
Send PM
Re: In economics, a “Veblen good” is an item that people buy in [#permalink]
2
Carcass wrote:
Dear Sir,

when you pick the wrong answer, I do know that for a student is natural to say: for me the answer is X and the OA is wrong.

My suggestion is to ask here on the board: why Did I pick it wrong?? where is the flaw in my strategy ?? and so on

back to the question

Therefore is a transition word that always announces the conclusion of the entire argument. In this case, the question was not so difficult.

The second bold is just this: the overall conclusion.

Hope this helps.


I am sorry if you are offended but I never said or meant that OA is wrong or I am right.

I just explained what my thoughts on the answer were and asked for an explanation on why it is wrong/explanation for the right answer. I thought that's what forums are for.

Kindly understand that we do not always understand the passage, questions and options completely. We all here are from different regions and fields. What may be simple and easy for one might be difficult for someone else. Sometimes even having OA does not explain its justification. Thats why I use forums to get a different perspective on the answers. In this case, I simply did not understand what was D really saying and asked about it.
Verbal Expert
Joined: 18 Apr 2015
Posts: 29955
Own Kudos [?]: 36212 [0]
Given Kudos: 25903
Send PM
Re: In economics, a “Veblen good” is an item that people buy in [#permalink]
Expert Reply
No worries.

Maybe I said in the wrong way. My fault. sorry :)

what I mean is this: considering that you tend to say: the answer should be X and instead is Y the strategy you should follow is this : what went wrong ??

where is the flaw ?? how can I break the argument far better to understand it in its intimacy ??

I would already redirect you to my guide but unfortunately is not ready, yet.

But we are here to help you 110% :wink:

Regards
avatar
Intern
Intern
Joined: 04 Dec 2018
Posts: 30
Own Kudos [?]: 20 [0]
Given Kudos: 0
Send PM
Re: In economics, a “Veblen good” is an item that people buy in [#permalink]
2
For this type of bold faced question, I always try to find out:
1/the conclusion
2/evidence
3/argument against
4/overall tone of the passage
before answering the question. By the time I read the answer choices, I would not be confused by the right and almost right answer choice.

D. The first is a general rule, the violation of which seems to indicate a paradox; the second is the resolution of that apparent paradox.
The argument's overall message is to describe Veblen good, an exception to general rule of economics, as price goes up, demand drops. So the first bold sentence should state that rule, whose ratification violated by Veblen's paradoxical as price goes up, demand stays up. Second bold face sentence apparently concluded that paradox can happen, explained by a couple of sentences before.
E. The first is an ironic description of what could happen in the marketplace; the second is a more realistic description of what actually happens.
From the tone of the passage, the rule of the marketplace was just cited as a matter of fact, not ironically. The rule of general economics is actually more realistic than the Veblen good's case, which rarely happens in realistic market. The second bold face sentence, to me, just sounds like what could happen
Manager
Manager
Joined: 16 Dec 2019
Posts: 190
Own Kudos [?]: 132 [0]
Given Kudos: 59
Send PM
Re: In economics, a Veblen good is an item that people buy in [#permalink]
In option E what is meant by "ironic description". I understood it like actual happening in market is different from what is mentioned above. This is the reason I marked D.

Am I right ?

Posted from my mobile device
Verbal Expert
Joined: 18 Apr 2015
Posts: 29955
Own Kudos [?]: 36212 [1]
Given Kudos: 25903
Send PM
Re: In economics, a Veblen good is an item that people buy in [#permalink]
1
Expert Reply
In D

According to the law so D is correct.

E is incorrect because what is depicted is NOT an ironic representation of what in reality happens.

Ironic means sarcastic but is used when you want to describe something on the opposite side of what is happening but is used to suscitate amusement or something fun
Prep Club for GRE Bot
Re: In economics, a Veblen good is an item that people buy in [#permalink]
Moderators:
GRE Forum Moderator
37 posts
GRE Instructor
234 posts
GRE Instructor
1063 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne