Knightsbridge Luxury Mansions: April 2010

Friday, 9 April 2010

necessity good

In economics a necessity good is a type of normal good. Like any other normal good, when income rises, demand increases. But the increase for a necessity good is less than proportional to the rise in income, so the proportion of expenditure on these goods falls as income rises. This observation for food is known as Engel's law. The income elasticity of a necessity good is thus between zero and one.

Necessity goods are goods that we can't live without and won't likely cut back on even when times are tough, for example food, power, water and gas.

knightsbridge luxury mansions

luxury good

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 more of the luxury good. This also means, however, that should there be a decline in income its demand will drop. Income elasticity of demand is not constant with respect to income, and may change sign at different levels of income. That is to say, a luxury good may become a normal good or even an inferior good at different income levels, e.g. a wealthy person stops buying increasing numbers of luxury cars for his automobile collection to start collecting airplanes (at such an income level, the luxury car would become an inferior good).
knightsbridge luxury mansions

How to paint your house the FAST way!

Apex City of London Hotel, Tower Hill

http://knightsbridgeluxurymansions.blogspot.com/

5 Maddox Street, Hotel London

5 Maddox Street, Hotel London">5 Maddox Street, Hotel London

http://knightsbridgeluxurymansions.blogspot.com/

Wednesday, 7 April 2010

The Borough of Welwyn Hatfield

The Borough of Welwyn Hatfield is a local government district in southern Hertfordshire, England.

Its covers the two towns of Welwyn Garden City and Hatfield, along with numerous smaller settlements from Woolmer Green in the north to Little Heath in the south. Each of the towns has a railway station on the East Coast Main Line and they are close to the A1 road. It borders the London Borough of Enfield.

http://knightsbridgeluxurymansions.blogspot.com/

Friday, 2 April 2010

Knightsbridge

Knightsbridge is a road which gives its name to an exclusive district lying to the west of Central London. The road runs along the south side of Hyde Park, west from Hyde Park Corner, spanning the City of Westminster and the Royal Borough of Kensington and Chelsea. Up to Brompton Road, it is a part of the A4 arterial road, while the remainder is part of the A315.

The eponymous district comprises the areas immediately surrounding Knightsbridge (the road) on the north, Sloane Street to its junction with Pont Street, and Brompton Road to its junction with Beauchamp Place. The district is notable as an ultra-expensive residential area, and for the density of its upmarket retail outlets, famously Harrods and Harvey Nichols.

http://kensaltownmansions.blogspot.com/