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Luxuries Meaning in Urdu
Luxuries
Meanings
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Luxuries Meaning In Urdu with Detail
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 and Veblen goods. The word "luxury" originated from the Latin word luxus, which means indulgence of the senses, regardless of cost.