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luxury good
This term is primarily used in economics and marketing to describe a specific type of Veblen or superior good. It differs from a standard "luxury item" by specifically referring to the income elasticity of demand; as a consumer's wealth increases, they spend a larger percentage of their income on these goods than they did previously.
In a commercial context, the term carries a connotation of prestige and status. While "luxury" as a general noun refers to the state of comfort, "luxury good" identifies the physical object as a tool for social signaling or a reward for high financial success.
Ý nghĩa
A product for which demand increases more than proportionally as consumer income rises, typically characterized by high cost, exclusivity, and a lack of necessity for basic survival.
The company specializes in the production of luxury goods such as high-end watches and designer handbags.