psion1369@lemmy.world to Ask Lemmy@lemmy.world · 1 year agoWhat makes something a Luxury?message-squaremessage-square4fedilinkarrow-up10arrow-down10
arrow-up10arrow-down1message-squareWhat makes something a Luxury?psion1369@lemmy.world to Ask Lemmy@lemmy.world · 1 year agomessage-square4fedilink
minus-squareLemvi@lemmy.sdf.orglinkfedilinkarrow-up1·1 year agoAll wares whose demand increases disproportionally with an increasing income. Bread for example is not a luxury. If you were to earn twice as much, you wouldn’t buy much more bread than you already do. The same isn’t true for jewelry for example.
All wares whose demand increases disproportionally with an increasing income.
Bread for example is not a luxury. If you were to earn twice as much, you wouldn’t buy much more bread than you already do. The same isn’t true for jewelry for example.