superior goods
Wealth-driven purchases
Superior goods are products people buy more of as their income rises—the economic opposite of inferior goods.
When someone gets a raise, they might switch from generic brands to premium ones, from economy flights to business class.
The term appears mainly in economics discussions: Organic produce functions as a superior good for many households.
Also called normal goods or luxury goods, though economists distinguish these terms in technical contexts.
Graph of price versus quantity
- consumer behaviorPatterns in purchasing choices
- budget constraintMaximum allowable expenditure
- purchasing powerEconomic spending ability
- consumption patternsHow resources get used
Upscale branded purses
- champagneEffervescent celebratory wine
- caviarCured fish eggs
- yachtsLarge recreational sailing vessels
- haute coutureCustom luxury dressmaking
private jets · fine jewelry · bespoke tailoring · penthouse · concierge services · vintage wines · spa retreats · gourmet dining
Item showing rank
- prestigeReputation commanding admiration
- exclusivityState of being limited
- affluent lifestyleWay of wealthy people
- upward mobilityRising social or economic status
elite access · premium pricing · desirability · conspicuous consumption · trendsetting · brand loyalty · social status · premium tier
Upscale, expensive automobiles
- organic foodChemically untreated agricultural products
- fine diningElegant restaurant experience
Skill in making objects
- durabilityResistance to wear
- reliabilityConsistent, predictable performance
- performanceCarrying out a task
- precision engineeringManufacturing requiring extreme accuracy
brand reputation · warranty coverage · innovation · functionality · refinement · attention to detail · handmade · artisanal
demand curve
Graph of price versus quantity
- consumer behaviorPatterns in purchasing choices
- budget constraintMaximum allowable expenditure
- purchasing powerEconomic spending ability
consumption patterns · economic theory · market segmentation
designer handbags
Upscale branded purses
haute couture · private jets · fine jewelry · bespoke tailoring · penthouse · concierge services · vintage wines · spa retreats · gourmet dining · luxury hotels
status symbol
Item showing rank
- prestigeReputation commanding admiration
- exclusivityState of being limited
- affluent lifestyleWay of wealthy people
upward mobility · elite access · premium pricing · desirability · conspicuous consumption · trendsetting · brand loyalty · social status · premium tier
luxury cars
Upscale, expensive automobiles
- organic foodChemically untreated agricultural products
- fine diningElegant restaurant experience
craftsmanship
Skill in making objects
- durabilityResistance to wear
- reliabilityConsistent, predictable performance
- performanceCarrying out a task
precision engineering · brand reputation · warranty coverage · innovation · functionality · refinement · attention to detail · handmade · artisanal · limited edition
superior goodsbasic goods
Essential everyday commodities
essential goods · staple goods · staples · necessities · basics
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