superior goods

This is because services tend to be superior goods, which are consumed proportionately more heavily at higher incomes.

Luxury goods are often synonymous with superior goods.

The prestige-value of some superior goods is so high that a price decline would lower demand; these are Veblen goods.

The British made efforts to win over the Wabanaki by using superior goods and ceremonial presents for the fur trade.

Superior goods make up a larger proportion of consumption as income rises, and therefore are a type of normal goods in consumer theory.

In economists' parlance, they became 'superior goods'.

Some organizations compete chiefly to serve people with superior goods, others compete chiefly to intimidate them with superior weapons.

Some texts on microeconomics use the term Superior good as the sole alternative to an inferior good, making "superior goods" and "normal goods" synonymous.

This is because poorer families who see the superior goods being consumed by their richer neighbours will attempt to 'keep up with the Joneses' and so spend a large fraction of their incomes.

He earned a remarkable 23,000 rubles (about $39,000), more than 10 times the average wage, but found he could not build a better house or buy superior goods because such items are rationed by the Government.

Today, there is a growing realisation among senior business executives that much of their competitive advantage is lost if they fail to deliver their superior goods to buyers on time and ahead of their rivals.

He believed that in developing nations, pressure to increase access to material goods rapidly increases primarily because people "come into contact with superior goods or superior patterns of consumption, with new articles or new ways of meeting old wants."

On the other hand, superior goods may have a wide quality distribution, such as wine and holidays; however, though the number of such goods consumed may stay constant even with rising wealth, the level of spending will go up, to secure a better experience.

Another point: It is generally agreed that the development and production of superior goods requires rigorous discipline, concentrated study, intensive planning, deferral of gratification, attention to detail, exhaustive thought, austerity and long hours of hard work, all items that sensible people make every effort to avoid.

Schenk, the 1988 Olympic decathlon champion, was said to have received not only the East German marks, worth as much as three times an average worker's annual wage, but also coupons work 6,000 West German marks to buy the superior goods available only in East Germany's hard-currency shops.