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  2. Share Prices
  3. Finance Glossary
  4. Terms Beginning With L
  5. Luxury Good

Luxury Good

Definition of 'Luxury Good'

One which has an income elasticity larger than one.

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Related Terms

Cross Price Elasticity of DemandDiminishing Marginal Rate of SubstitutionDistortionInferior GoodMarginal UtilityNominal GoodPerfectly Competitive MarketPrivate GoodProduction Possibility FrontierAccumulation / Distribution IndicatorActual Settlement Date Accounting (ASDA)Adverse SelectionBona FideBudget ShareComparative AdvantageCredit RatingDemandDiminishing Marginal UtilityDividend CoverEquity Kicker / Sweetener

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