Linked by Thom Holwerda on Sun 16th Dec 2012 16:25 UTC
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Member since:
2006-02-22
I thought a "luxury item" in economic terms was anything that wasn't a homogenous item and the price *isn't* set by supply and demand. Luxury items can differentiate themselves amongst other things by brand and demand a premium. By that definition, both Samsung and Apple smart phones are clearly luxury items.
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