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  • Currency

    Currency

    In economics, the term currency can refer either to a particular currency, for example the US dollar, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of money deposited in...
  • Luxury goods

    Luxury goods

    In economics, a luxury good is a good for which demand increases more than proportionally as income rises, in contrast to a "necessity good", for which demand is not related to income. Luxury goods are said to have high income elasticity of demand: as people become wealthier, they will buy more and...

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