Many Actors and Actresses Earn Millions Each Year and Display

question 12

Multiple Choice

Many actors and actresses earn millions each year and display their wealth by living in upscale mansions and driving expensive vehicles.What does their behavior exemplify?

• A)stratified consumption
• B)conspicuous consumption
• C)trickle-down theory
• D)ranked consumption

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Definitions:

Mad Cow Disease

A fatal neurodegenerative disease in cattle that can be transmitted to humans, causing a variant of Creutzfeldt-Jakob Disease.

Ground Beef

Beef that has been finely chopped by a meat grinder or a similar tool, often used in cooking various dishes.

Demand Elasticity

An indicator of the responsiveness of the quantity demanded of a product to changes in its price, where an elasticity greater than one signifies heightened sensitivity.

Total Revenue

The total amount of money received by a company from sales of goods or services, before any expenses are subtracted.