Question

what is luxury? how do we differentiate it from necessity?​

Answer 1

Answer:

In economics, a luxury good (or upmarket good) is a good for which demand increases more than proportionally as income rises, and is a contrast to a "necessity good", where demand increases proportionally less than income. Luxury goods is often used synonymously with superior goods and Veblen goods.

Answer 2

Answer:

luxury is want whereas necessity is need