Psy 322 Week 4 Discussion Questions

Week 4 DQs DQ 1 What is the correlation between social status and income How does this affect consumer behavior Provide examples. Answer Each person is put into a social category. Social category is actually the status of people depending on their economic position, what you have, and just how you spend. Therefore brings in the income element. The sum of income, education, race, ethnic group and so on places you into a particular social category for example Upper Category, Middle Category, or Low Category. Being upper category is regarded as superior having income originating from either inherited money or from the kind of occupation held. Middle category you are white-collar employees. Lower category may range from people on welfare to those people with a really reduced income. Various levels can be found in each category. For instance, each an NBA player that earns 20 million or more annually would be in the upper category, however so would a physician earning 250,000 annually. The NBA player might be in an upper category and also the physician would be in the upper category. Each of these categories easily pertains to income and user behavior. Upper category users have a reputation to