CH.12 Flashcards
1
Q
Consumer Confidence
A
Consumer’s beliefs about what the future holds. Predicts savings rate and consumption rate.
2
Q
Social Class
A
Overall rank of people in society determined by:
Income, education, Occupational prestige
3
Q
Social Mobility
A
Passage of individuals from one social class to another. Horizontal, downward and upward mobility.
4
Q
What typically leads to social mobility?
A
Marriage
5
Q
Conspicuous Consumption
A
Buying expensive items to display wealth, income and social class (status signaling).
6
Q
Brand Prominance (quiet or loud signals)
A
Is not a function of wealth but a functions of need for status.
