| A | B |
|---|
| roles and educational attainment | American's standard of living continues to improve due to a shift in income due to these two things for women |
| discretionary income | Money available to a household over and above what is required to have a comfortable standard of living |
| spendthrifts | Consumers who buy everything in sight |
| atephobia | fear of being ruined, either because of losing a job or losing savings |
| plutonomy | is an economy that is driven by a fairly small group of rich people |
| social class and income | The best predictor of major expenditures that do not have status or symbolic value |
| Social mobility | refers to the passage of individuals from one social class to another |
| frugalistas | Consumers who refuse to sacrifice style, but achieve it on a budget |
| Consumer confidence | measures how optimistic or pessimistic people are about the future health of the economy and how they will fair in the future. |
| working class lower middle | Blue-collar workers with relatively high-prestige jobs consider themselves THIS |
| homogamy | A tendency for people to marry in a social class similar to their own |
| Karl Marx | theorists that is best known for arguing that an individual's relationship to the means of production determines his position in society |
| achieved status | A person who receives rewards and status because of his hard work |
| affluenza | for example a millionaire who is constantly stressed and unhappy despite his/her wealth |
| mass class | Hundreds of millions of consumers around the world have the purchasing power to afford higher quality products |
| Taste culture | describes consumers in terms of their aesthetic and intellectual preferences |
| underprivileged | A middle class person with an income at least 15 percent lower than the median middle class income |
| Occupational prestige | a system in which we define people by what they do for a living |
| Social stratification | society creates an artificial divisions that discourageds people from having friends from different social structures. |
| glamping | Luminaries (prominent people) in corporations like Amazon, Google, and Twitter do this glorified form of camping |
| conspicuous consumption | one who purchases products to show visible evidence of his/her ability to afford luxury goods |
| nouveau riche | people who have recently gained personal wealth and may experience status anxiety & may try to display symbols of success to make up for an internal lack of assurance about the "correct" way to behave. |
| status symbols | If products such as a Rolls-Royce, or Cartier diamond, are bought and displayed as markers of social class |
| Japan | A country thought to be highly status-conscious |
| marriage | modern American ceremony that comes closest in intent to a Native American potlatch |
