@psion1369 to Ask Lemmy • 11 months agoWhat makes something a Luxury?message-square14arrow-up132arrow-down14
arrow-up128arrow-down1message-squareWhat makes something a Luxury?@psion1369 to Ask Lemmy • 11 months agomessage-square14
minus-square@[email protected]linkfedilink1•11 months 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.