CHAPTER 12 PRACTICE QUIZ

Which of the following term refers to the money available in a household over and above what it requires to have a comfortable standard of​ living?

Discretionary income

Flamboyant consumption is an example of​ ______________________ because consumers display symbols they believe have​ "class" to make up for an internal lack of assurance.

symbolic​ self-completion

____________ is one way to differentiate among social classes.

Worldview

According to​ Veblen, which of the following terms is used in reference to​ people's desire to provide prominent visible evidence of their ability to afford luxury​ goods?

Conspicuous consumption

SRI Consulting Business Intelligence divides luxury consumers into three categories. Which of the following categories of consumers uses luxury items to demonstrate their success to​ others?

Luxury is a reward

Which of the following terms describes the millions of global consumers who now enjoy a level of purchasing power that enables them to afford​ high-quality products?

Mass class

Consumers who would fall into the old money category would be placed in which quadrant of the typology of status​ signaling?

Patrician

This term is used to describe an economy​ that's driven by a fairly small number of rich people.

Plutonomy

Which of the following refers to individuals moving upward or downward in social​ class?

Social mobility

Which of the following terms refers to the creation of artificial divisions in a social system whereby some members get more resources than others by virtue of their relative​ standing, power, or control in the​ group?

Social stratification

​___________ is the use of possessions to communicate wealth or prestige to others.

Status symbolism

__________ describes consumers in terms of their aesthetic and intellectual preferences.

Taste culture

One approach to social class focuses on the ways consumers within different social strata express and interpret the meanings of possessions. These ways of expressing and interpreting meanings are called​ ______________.

codes

Someone who tries to be open to the world and strives for diverse experiences may be described as having​ ___________.

cosmopolitanism

The elites in a society collect a set of skills that enable them to hold positions of power and authority. This knowledge of refined behavior is called​ ______________.

cultural capital

With the economic​ downturn, many trendsetters turned into​ ______________, refusing to sacrifice style but achieving it on a budget.

frugalistas

Consumers who buy things to inspire envy through their display of wealth or power create​ ________.

invidious distinction

Which of the following best answers the​ question: Is social class or income a better predictor of consumer​ behavior?

it depends on the type of product

The creation of artificial divisions in a​ society, where resources are distributed based on status​ position, is a process called​ ________.

social stratification