Management and Organizational Studies 3321F/G Chapter Notes - Chapter 12: Social Class, High Standard Manufacturing Company, Conspicuous Consumption
11 Jan 2019
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Document Summary
Relatively speaking, canada has a high standard of living in comparison to international countries. They are the only g7 nation to have recovered from the financial crisis which has been attributed to a sound financial system. Increases to employment and gdp have been attributed to the large number of people in the workforce and the number of women in traditionally male dominated sectors. Discretionary income: the money available to a family above a comfortable standard of living ie. extra spending money. Tightwards: hate to part with money, even pennies. Spendthrifts: enjoy nothing more than buying everything in sight. Men are more likely to be tightwads. Consumers can be grouped by their spending habits and income and then targeted for promotions and advertisements appropriately. Consumer economics: concerned with the human side of economic decisions. How consumers motives and their expectations of the future affect their current spending and how these individual decisions add up to affect society"s economic well being.
