The type of expenses that are included in nonessential spending are spends done on luxury goods like video games. Therefore, the option C holds true.
What is the significance of luxury goods?
Such goods, which are not the necessities of a rational individual, are known as luxury goods. In simple words, it can also be mentioned that luxury goods are such goods without which a human can survive. Moreover, these goods do not fall under the category of basic necessities.
The scope of luxury goods may change from time to time; however, the luxury goods can never replace the basic necessities, until the basic necessities may themselves become an item of luxury. Spending on luxury is not essential.
Therefore, the option C holds true regarding the significance of luxury goods.
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