Luxury good: Difference between revisions
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A good with an income elasticity of demand greater than one. | A good with an income elasticity of demand greater than one. | ||
Contrasted with a necessity. | (Contrasted with a necessity.) | ||
Revision as of 13:35, 5 May 2016
Economics.
A good with an income elasticity of demand greater than one.
(Contrasted with a necessity.)
