Answer :
Frozen angelfish can be considered a luxury good. Luxury goods are products that are not considered essential for daily living but are rather associated with higher income levels and are purchased for their perceived quality, status, or exclusivity. In the case of frozen angelfish, it is a premium seafood item that is often priced higher than other fish varieties and is sought after for its taste, texture, and perceived status.
Consumers who purchase frozen angelfish are likely to do so as a treat or for special occasions, rather than as a staple food item. The demand for luxury goods like frozen angelfish tends to increase as income levels rise, reflecting the preference for higher-quality or more exclusive products when individuals have more disposable income to spend.
Therefore, frozen angelfish fits the criteria of a luxury good due to its association with higher income brackets, premium pricing, and its status as a product that is not essential for basic needs but rather chosen for its perceived quality and exclusivity.
Consumers who purchase frozen angelfish are likely to do so as a treat or for special occasions, rather than as a staple food item. The demand for luxury goods like frozen angelfish tends to increase as income levels rise, reflecting the preference for higher-quality or more exclusive products when individuals have more disposable income to spend.
Therefore, frozen angelfish fits the criteria of a luxury good due to its association with higher income brackets, premium pricing, and its status as a product that is not essential for basic needs but rather chosen for its perceived quality and exclusivity.
