Quote from: nngella on Today at 04:48:05 PM

In economics, you can define luxury goods as a good for which demand increases more than proportionally as income rises. In other words, as people become wealthier, they will buy more and more of the luxury good.

In economy depression, since the income of people become lower, then you cannot expect people to avail luxury goods but more on basic necessities like food and clothing.

In my opinion, this really depends on each individual's personality, because I have also found that those who have high incomes still use items that are relatively ordinary and it is very rare for these people to look for luxury items that they will use and prefer items that are natural. they buy it and are comfortable when using it and for people with low incomes of course they have to think about their needs first compared to using luxury goods and if those with low incomes force themselves to use luxury goods of course this will put them in financial problems.