MKT 230 Chapter Notes - Chapter 12: Social Mobility, Thorstein Veblen, Social Capital
Document Summary
Status symbols are valued as markers of social class. Canadian living standards are high and improving. 2. 8 billion people lived on under 2$ per day in 2008. Nearly 30% of wives make more money than their spouses. Rate for adults who had not completed secondary education = 60% Graduates from university programs earned 70% more on avg then people who just graduated high school. Consumer demand= willingness to buy + ability to buy. Money available to household over and above that required for a comfortable standard of living. Low incomes but obsessed with names like kitchenaid: value-price shoppers. Who like low prices and cannot afford more: price-sensitive affluents. Concerned with the (cid:498)human(cid:499) side of economic decisions. Confidence: extent to which people are optimistic or pessimistic about the future health of the economy. Influences how much discretionary money we will pump into the economy.
