Luxury goods are also:

Question

Quizplus · Accepted Answer

Luxury goods are considered normal goods, meaning that as consumers' income increases, the demand for luxury goods also increases. They are not considered inferior goods because as consumers' income increases, the demand for luxury goods does not decrease. They are also not complementary goods because their demand is not necessarily dependent on the demand for another good. They are expensive goods due to their high price point, but this is not the only characteristic that defines them.

Luxury Goods Are Also