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In Roman and early Europe times things from China (the far East area) were very hard to get because of the frightful ordeal of getting them to Europe. Long sea travel around Asia and Europe and land travel across vast distances including deserts made the cost of luxury goods prohibitive for all but the very rich.
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Chinese merchants traded luxury goods for?
Luxury good were traded by Chinese merchants for Spices, Teas, and Porcelain goods.
Why were the goods from east Asia so expensive?
They were expensive to bring back. The overland Silk Road was dangerous and long. It took moths to travel. Many times the travelers were robbed or ships were lost in storms. The cost of the goods was added to the price when they were sold.
What accurately compares America's World War I economy with Europe's?
Americans could invest in luxury goods like radios and automobiles, while European economies struggled to rebuild and grow.
What statement accurately compares Americas post world War 1 economy with Europe's?
Americans could invest in luxury goods like radios and automobiles, while European economies struggled to rebuild and grow. The postwar boom continued into the Roaring 20s.
Why did serfdom come to an end in Europe?
There are several reasons. One would be the introduction of luxury goods (as a result of the Crusades). As luxury goods were introduced in Europe, lords and kings wanted goods like silk and spices. Towns started to develop and coined money was reintroduced into Europe. Towns gave serfs other options in life and undermined the authority of the lords since Kings granted charters to the towns. Also, as coined money was reintroduced so the lords and kings could buy luxury goods, serfs began to sell their goods rather than exchange them for protection and land in the manor and buy their freedom. The development of natural rights, started by the Magna Carta in Europe in 1215, began to introduce ideas that undermined the basic principles of serfdom. Another reason feudalism declines in the decline of Viking raids. A period known as the Great Warming allowed Vikings to travel North and West (toward Greenland and Canada) and attack manors with less frequency. Since serfdom was based on a system of protection, if protection was no longer needed because Europe was safer than serfs rely on their manors less. Also, the Great Warming coincided with the Agricultural Revolution where surplus food was beginning to be produced. As a result of more food, people were healthier, could leave manors or sell their food to then buy freedom. By the 1800s, only Russia still has serfdom and it is outlawed by 1863. There is no single answer to this question--you may want to narrow to a part of Europe rather than Europe as a whole.
How can you define what goods are luxury goods?
Either expensive, valuable, or rare. It usually falls under several of these categories.
Examples for luxury goods?
Are like Expensive Jewlery, Clothing, Cars, Vactions, & Smart Phone
What does the United Kingdom trade to Canada?
Scotch and Irish whiskeys, luxury goods such as high fashion clothing, expensive cars.
Is a luxury good always considered superior to a normal good in terms of quality and price?
No, a luxury good is not always considered superior to a normal good in terms of quality and price. Luxury goods are typically more expensive and associated with higher quality, but this is not always the case. Quality and price can vary for both luxury and normal goods.
What are some examples of luxury goods?
Some examples of luxury goods are make up, sports car, expensive watches,jewelery,mobile phones,ipad, ipod,nitendo,fridge ,freezer, designer clothes/bags/accessories etc.
What are the key differences between luxury goods and normal goods in terms of consumer preferences and purchasing behavior?
Luxury goods are typically more expensive and are associated with higher quality, exclusivity, and status. Consumers of luxury goods often prioritize brand reputation, craftsmanship, and unique design. They are willing to pay a premium for these attributes. On the other hand, normal goods are more affordable and cater to a wider range of consumers. Purchasing behavior for normal goods is often driven by factors such as price, functionality, and practicality.
What are the key differences between a normal good and a luxury good?
A normal good is a product that people buy more of as their income increases, while a luxury good is a product that people buy more of as their income increases, but at a faster rate. Luxury goods are typically more expensive and are considered to be more exclusive or high-end compared to normal goods.
Chinese merchants traded luxury goods for?
Luxury good were traded by Chinese merchants for Spices, Teas, and Porcelain goods.
Suppose a customer purchases only 2 goods Can both goods be luxury goods?
The goods are deserts The goods are deserts
What are the key differences between a luxury good and a normal good in terms of consumer preferences and purchasing behavior?
Luxury goods are typically more expensive and associated with higher quality, status, and exclusivity, leading consumers to value them for their prestige and social status. Normal goods, on the other hand, are more affordable and cater to everyday needs, with consumers prioritizing functionality and practicality over luxury. This difference in perception influences consumer preferences and purchasing behavior, with luxury goods often being purchased for emotional satisfaction and self-expression, while normal goods are bought for their utility and value for money.
The difference between essential and luxury goods?
essential-needed to survive luxury-wanted
What drives the demand for luxury goods in the market?
The demand for luxury goods in the market is driven by factors such as social status, exclusivity, quality, and brand image. Consumers often purchase luxury goods to showcase their wealth and social standing, as well as to experience a sense of prestige and luxury. Additionally, the perceived quality and craftsmanship of luxury goods, along with the brand's reputation and image, also play a significant role in driving demand for these products.
