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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] |
Rolls Royce Phantom - Flickr - Alexandre Prévot (5) (cropped)
Roll or Rolls may refer to: Movement about the longitudinal axis * Roll angle (or roll rotation), one of the 3 angular degrees of freedom of any stiff body (for example a vehicle), describing motion about the longitudinal axis ** Roll (aviation), one of the aircraft principal axes of rotation of an aircraft (angle of tilt to the left or right measured from the longitudinal axis) ** Roll (ship motion), one of the ship motions' principal axes of rotation of a ship (angle of tilt to the port or starboard measured from the longitudinal axis) * Rolling ''manoeuvre'', a manoeuvre of any stiff body (for example a vehicle) around its roll axis: ** Roll, an aerobatic maneuver with an airplane, usually referring to an aileron roll, but sometimes instead a barrel roll, rudder roll or Slow roll (aeronautics), slow roll ** Kayak roll, a maneuver used to right a capsized kayak ** Roll program, an aerodynamic maneuver performed in a rocket launch * wiktionary:Roll rate, Roll rate (or roll velocit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
