Capitalism
Money or asset that is accumulated for the purpose of reinvestment
What is capital?
Encourages consumers to buy more through the use of manipulation and the idea that owning a certain item will increase happiness or status.
What is advertising?
A key factor in determining social class that directly impacts a person's access to resources and opportunities.
What is income?
What is social class?
Clothing, jewelry, cars, yachts, and high tech tools that give people the feeling of belonging to a higher social class.
What are luxury goods?
Drives the growth of capitalism.
What is consumerism?
Promotional activities hosted by businesses to create a memorable experience for customers.
What are shopping events?
The state of one who lacks a usual or socially acceptable amount of money or material possessions.
What is poverty?
Prejudice or discrimination based on a persons social class.
What is classism?
To imitate others that are higher in the social hierarchy.
Why do people engage in conspicuous consumption?
Two class system, private ownership, profit motive, minimal government intervention, and competition
What is the 5 main ideals of capitalism?
A social and economic system where people want to buy more goods than they need for survival.
What is consumerism?
An abundance of valuable possessions or money.
What is wealth?
Downward, upward, lateral, and internalized.
What are the 4 types of classism?
Increases the frequency of borrowing money to compete with consumption.
What are the effects of conspicuous consumption?
Private property, self interest, competition, profit motive, work ethic.
What are the values of capitalism?
The idea that we consume to display our social power
What is conspicuous consumption?
The system of ordering a society in which people are divided based on social or economic status.
What is class?
When people from lower classes accept and justify the dominant society's beliefs and attitudes toward them.
What is internalized classism?
The practice of buying and using goods to display social status or wealth.
What is conspicuous consumption?
An economic system for dealing with money and wealth controlled by private owners.
What is capitalism?
The ability of a consumer to obtain goods or services before payment.
What is credit?
A form of social power that can help people climb the social ladder and achieve success.
What is cultural capital?
The unfair treatment of people based on their social or economic class.
What is class discrimination?
The practice of separating people into distinct groups based on factors such as race, ethnicity, income, religion, or gender.
What is social segregation?