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top   »  economics   »  goods   »  economic goods   »  superior good

What is a Superior Good?

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A superior good is a term economists use for luxury items. Unlike an inferior good, consumption of a superior good increases as a consumer's income rises. Overall consumption of a superior good is concentrated amongst high income groups.
Overview: Superior Good
Function
Economics
Definition
A good that is primarily consumed by higher income groups.
Example
Expensive fashions such as Haute Couture
Related Concepts
Inferior Good
Veblen Goods
Giffen Good

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Middle Class
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Overexploitation
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Value
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Zero-sum Game
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