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