What are luxuries?
- Luxuries are goods which consumers want, but don’t need.
- Luxuries are considered non-essential and are typically associated with a higher standard of living.
How Do I Remember it?
- Think of “luxuries” as items that bring an extra layer of comfort and enjoyment to life, beyond what is necessary. They are the extras that make life more pleasurable.
Real World Example
- Examples of luxuries include items like expensive jewelry, high-end watches, luxury automobiles, spa treatments, and gourmet chocolates. These are things that people may treat themselves to for the sheer pleasure and indulgence they offer.
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By: Ryan Aquino
