What's the difference between HIGH ORDER and LOW ORDER shops/goods?
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Wikipedia characterises high order as "Goods and services with a high threshold population and a large range." What does "high threshold population" mean? Also, if anyone has any alternative simple explanations that would help. And where does medium order fit into this as well? Thank you!
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Answer:
Basically, high order goods can be classified as luxury items. Eg. television sets, air conditioners, cars and laptops. Low order goods are things such as newspapers, groceries etc. which cost very little. I haven't heard of medium order but I suppose it could be things in between such as clothes or lamps. There can be a lot of variation in these though, for example clothes bought from Lacoste and clothes bought from Topshop have a large difference in price.
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