Tuesday, December 8, 2009

Luxury

Luxury can refer to several things:
* Luxury good, an economic good for which demand increases more than proportionally as income rises; contrast with inferior good and normal good.
* Luxury tax, a tax on products not considered essential, such as expensive cars
* Luxury tax (sports), a surcharge put on the aggregate payroll of a sports team to the extent to which it exceeds a predetermined guideline level set by the league
* Luxury vehicle, a relatively expensive automobile
* Luxury yacht, a very expensive privately owned yacht which is professionally crewed
* Luxury real estate, a niche real estate market dealing with the highest economic group of property buyers
* Luxury resorts, which are very exclusive vacation facilities
* Luxury box, a term for a special seating section in arenas, stadiums and other sports venues
* Luxury magazine, a magazine devoted to fine craft and luxury goods.

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