Sky Moon Tourbillon wristwatch, the price for each piece is over US$1.2 million
are an example of a luxury good. When income drops, people buy standard or economy vehicles instead
In economics, a luxury good (or upmarket good) is a good for which demand increases more than proportionally as income rises, so that expenditures on the good become a greater proportion of overall spending.
Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. Luxury goods is often used synonymously with superior goods.
The word "luxury" originated from the Latin word luxuria, which means exuberance, excess, abundance.