Answered: How have women contributed to the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

1. How have women contributed to the overall rise in income in our society? 2. Define discretionary income. 3. How does consumer confidence influence consumer behavior? 4. What is a pecking order? 5. Explain what is meant by achieved versus ascribed status. 6. Is income alone a good determinant of social class? 7. What is income inequality, and why is it a problem? 8. How are attitudes toward luxury categorized according to SRI Consulting Business Intelligence? 9. In some countries it is difficult to measure and quantify social class. Why might this be the case? 10. What are the main motivators in purchasing a status symbol? 11. What is the term used to describe an individual’s aesthetic and intellectual preferences? 12. Describe the difference between a restricted and an elaborated code. Give an example of each. 13. How do the elites restrict access to their group? 14. What are the three identified strategies used by consumers if counterfeiting is common in their preferred brands? 15. What roles do status symbols play in purchase decisions? 16. What is meant by the term “calculated consumption”? 17. What is a current example of parody display? 18. Describe what we mean by the term mass class and summarize what causes this phenomenon.

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