Superior goods make up a larger
proportion of
consumption as
income rises, and therefore are a type of
normal goods in
consumer theory. Such a good must possess two economic characteristics: it must be
scarce, and, along with that, it must have a high price. The scarcity of the good can be natural or artificial; however, the general population (i.e.,
consumers) must recognize the good as distinguishably
better. Possession of such a good usually signifies "
superiority" in resources, and usually is accompanied by prestige.