|
Luxury Tax
A luxury tax is a tax on luxury goods: products not considered essential. A luxury tax may be modeled after a sales tax or VAT, charged as a percentage on all items of particular classes, except that it mainly directly affects the wealthy because the wealthy are the most likely to buy luxuries such as expensive cars, jewelry, etc. It may also be applied only to purchases over a certain amount; for instance, some U.S. states charge luxury tax on real estate transactions over a certain limit. A luxury good may be a Veblen good, which is a type of good for which demand increases as price increases. Therefore, the effect of a luxury tax may be to increase demand for certain luxury goods. In general, however, since a luxury good has a high income elasticity of demand by definition, both the income effect and substitution effect will decrease demand sharply as the tax rises. Theory Luxury tax is based on the concept of positional goods, which are scarce goods whose value arises as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxury Goods
In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a greater proportion of overall spending. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. ''Luxury goods'' is often used synonymously with ''superior goods''. Definition The word "luxury" originated from the Latin word ''luxuria'', which means exuberance, excess, or abundance. A luxury good can be identified by comparing the demand for the good at one point in time against the demand for the good at a different point in time, at a different income level. When personal income increases, demand for luxury goods increases even more than income does. Conversely, when personal income decreases, demand for luxury goods drops even more than income does. For example, if income rises 1%, and the demand for a product rises 2%, then the product is a luxury good. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Simeon Djankov
Simeon Dyankov ( bg, Симеон Дянков, also Djankov; born July 13, 1970) is a Bulgarian economist. From 2009 to 2013, he was the Deputy Prime Minister and Minister of Finance of Bulgaria in the government of Boyko Borisov. Prior to his cabinet appointment, Dyankov was a chief economist of the finance and private sector vice-presidency of the World Bank. He was an associate editor of the '' Journal of Comparative Economics'' from 2004 to 2009. Dyankov was a chairman of the board of the European Bank for Reconstruction and Development. From 2013 to 2015, he was appointed rector of the New Economic School in Moscow. Since November 2015, Dyankov was a research fellow of the Financial Markets Group at the London School of Economics. At the World Bank, Dyankov was director of development economics. He was involved in the publication oWomen Business and the Law World Development Reports and Doing Business reports. The Doing Business reports were discontinued in 2021 after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Positional Good
Positional goods are goods valued only by how they are distributed among the population, not by how many of them there are available in total (as would be the case with other consumer goods). The source of greater worth of positional goods is their desirability as a status symbol, which usually results in them greatly exceeding the value of comparable goods. Various goods have been described as positional in a given capitalist society, such as gold, real estate, diamonds and luxury goods. Generally any coveted goods, which may be in abundance, that are considered valuable or desirable in order to display or change one's social status when possessed by relatively few in a given community may be described as positional goods. What could be considered a positional good can vary widely depending on cultural or subcultural norms. More formally in economics, positional goods are a subset of economic goods whose consumption (and subsequent utility), also conditioned by Veblen-like pric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breakfast At Tiffany's (film)
''Breakfast at Tiffany's'' is a 1961 American romantic comedy film directed by Blake Edwards, written by George Axelrod, adapted from Truman Capote's 1958 novella of the same name, and starring Audrey Hepburn as Holly Golightly, a naïve, eccentric café society girl who falls in love with a struggling writer. It was theatrically released by Paramount Pictures on October 5, 1961, to critical and commercial success. Nominated for five Academy Awards (winning two), with the music (including "Moon River") nominated for six Grammy Awards (winning five), the film was selected in 2012 for preservation in the United States National Film Registry by the Library of Congress as being "culturally, historically or aesthetically significant". Plot Early one morning, a taxi pulls up in front of the Tiffany & Co. flagship store and from it emerges elegantly dressed Holly Golightly, carrying a paper bag containing her breakfast. After looking into the store's window displays, she strolls to h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly (board Game)
''Monopoly'' is a multi-player economics-themed board game. In the game, players roll two dice to move around the game board, buying and trading properties and developing them with houses and hotels. Players collect rent from their opponents, aiming to drive them into bankruptcy. Money can also be gained or lost through ''Chance'' and ''Community Chest'' cards and tax squares. Players receive a stipend every time they pass "Go" and can end up in jail, from which they cannot move until they have met one of three conditions. House rules, hundreds of different editions, many spin-offs, and related media exist. ''Monopoly'' has become a part of international popular culture, having been licensed locally in more than 103 countries and printed in more than 37 languages. , it was estimated that the game had sold 275 million copies worldwide. ''Monopoly'' is derived from ''The Landlord's Game'', created by Lizzie Magie in the United States in 1903 as a way to demonstrate that an economy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
