Talk:Superior good

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Scarcity and price

Such a good must possess two economic characteristics: it must be scarce, and, along with that, it must have a high price.

I don't think so. It is sufficient that the income elasticity of demand is greater than one. I know there's a source given, but that source contains such nonsense as this:

A normal godd [sic] has a downward to the right sloping demand curve. This means that purchases will increase, all other prices for other goods remaining constant, with a price decrease for the good in question.

68.239.78.86 (talk) 05:50, 11 March 2009 (UTC)[reply]

Moving

Superior good should not be merged with Luxury good; they are two entirely different concepts in Economics. -- 李博杰 | —Talk contribs email guestbook complaints 11:18, 19 May 2009 (UTC)[reply]

@Benlisquare: What's the different, both article appear to describe the same concept. Jonpatterns (talk) 21:28, 19 November 2017 (UTC)[reply]

This is incorrect. Both superior and inferior goods refer to goods with an income elasticity of consumption that exceeds 1. Mathematically equivalent definitions include goods where the percentage of income spent on the good increases as income increases, or that the percent increase in consumption of the good is greater than the percent increase in income. The two articles should be merged, and describe identical concepts. Source: -Definition of superior good -Definition of a luxury good -My degree in economics Closed Limelike Curves (talk) 06:08, 28 March 2020 (UTC)[reply]