luxury

(noun)

Something very pleasant but not really needed in life.

Related Terms

  • supply
  • demand

Examples of luxury in the following topics:

  • Luxury Arts

    • Islamic luxury arts of the later Middle Ages were particularly distinguished in the Mughal Empire (India) and in Egypt under the Mamluks.
    • The later Mughal Empire period is most notable for luxury arts of the court, and Mughal styles heavily influenced local Hindu and later Sikh rulers as well.
    • Sixteenth century Egypt, under the Mamluks patronage of luxury arts, favored primarily enameled glass and metalwork and is remembered as the golden age of medieval Egypt.
    • Identify the luxury arts of the Mughal Empire, such as miniatures, jewelry, carvings, and metalwork.
  • Islamic Glass Making

    • Glassmaking was the most important Islamic luxury arts of the early Middle Ages.
    • For most of the Middle Ages, Islamic luxury glass was the most sophisticated in Eurasia, exported to both Europe and China.
    • Between the 8th and early 11th centuries, the emphasis in luxury glass was on effects achieved by "manipulating the surface" of the glass, initially by incising into the glass on a wheel, and later by cutting away the background to leave a design in relief.
    • From the 12th century, the industry in Persia and Mesopotamia appears to decline, and the main production of luxury glass shifts to Egypt and Syria.
  • Relative Deprivation Approach

    • In 1905 cars were a luxury, hence an individual unable to afford one would not feel or be viewed as deprived.
    • In 1905 cars were a luxury, hence an individual unable to afford one would not feel or be viewed as deprived.
  • Income Elasticity of Demand

    • This is typical of a luxury or superior good.
    • The consumer may be selecting more luxurious substitutes as a result of the increase in income.
  • Demanding a Premium

    • Luxury has a psychological association with price premium pricing.
    • Marketers view luxury as the main factor differentiating a brand in a product category.
  • Deviance

    • This practice represents a luxury, as heterosexual white males can afford to temporarily assume this different identity, knowing that they can return to the comforts of their regular socioeconomic status.
    • This behavior represents a luxury, because heterosexual white males can afford to make a temporarily shift, knowing that they may subsequently return to the comforts of their prevailing socioeconomic status.
  • The Opus Anglicanum

    • Opus Anglicanum became popular luxury items across Europe.
    • However, as the 14th century moved on, there was less demand for luxury goods as funds were re-directed towards military expenditures.
  • The Importance of Price to Marketers

    • The term luxury comes to mind.
    • The term luxury comes to mind.
  • Gothic Metalwork and Ivory Carvings

    • These works were considered luxury items and Ivory work could often be found on the backs of hairbrushes, mirrors, and other luxury items. Ā 
  • Divisional Structure

    • If the division builds luxury sedans or SUVs, for example, the SUV division will have its own sales, engineering, and marketing departments distinct from those departments within the luxury sedan division.
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