MKTG 305 Exam questions and
answers graded A+
Define discretionary income - ANS✅✅The money available to a household over and above what it
requires to have a comfortable standard of living
How we spend varies based in part on our attitudes toward money
Tightwad vs Frugal
Spendthrifts
How does consumer confidence influence consumer behavior? - ANS✅✅they influence how much
money people pump into the economy when they make discretionary purchases
What is a pecking order? - ANS✅✅a ranking that determines your social class. people try to move
up in the social order to improve their ranking.
What is social class? Is it different from income and if so how? - ANS✅✅the overall rank of people
in a society. yes because the way we spend our money is more telling that how much we spent
Define social mobility and describe the different forms it takes. - ANS✅✅the passage of individuals
from one social class to another.
Horizontal Mobility- when a person moves from one position to another
Upward Mobility-Moving up in a position
Downward Mobility- Moving down in a position
What one variable is the best indicator of social class? What are some other important indicators? -
ANS✅✅Occupational prestige
Is stable over time and similar across cultures
Single best indicator of social class
Use of leisure time, allocation of family resources, aesthetic preferences, and political orientation
answers graded A+
Define discretionary income - ANS✅✅The money available to a household over and above what it
requires to have a comfortable standard of living
How we spend varies based in part on our attitudes toward money
Tightwad vs Frugal
Spendthrifts
How does consumer confidence influence consumer behavior? - ANS✅✅they influence how much
money people pump into the economy when they make discretionary purchases
What is a pecking order? - ANS✅✅a ranking that determines your social class. people try to move
up in the social order to improve their ranking.
What is social class? Is it different from income and if so how? - ANS✅✅the overall rank of people
in a society. yes because the way we spend our money is more telling that how much we spent
Define social mobility and describe the different forms it takes. - ANS✅✅the passage of individuals
from one social class to another.
Horizontal Mobility- when a person moves from one position to another
Upward Mobility-Moving up in a position
Downward Mobility- Moving down in a position
What one variable is the best indicator of social class? What are some other important indicators? -
ANS✅✅Occupational prestige
Is stable over time and similar across cultures
Single best indicator of social class
Use of leisure time, allocation of family resources, aesthetic preferences, and political orientation
