John Doesn't Just Make a Point of Buying the Latest

question 105

Multiple Choice

John doesn't just make a point of buying the latest and most expensive cars, electronics, and clothes whether he needs them or not-he makes sure others realize that he is buying the latest and most expensive cars, electronics, and clothes whether he needs them or not. John is engaging in

• A) class consciousness.
• B) conspicuous consumption.
• C) social differentiation.
• D) social stratification.

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Definitions:

Actual Authority

Authority given to an agent expressly or by implication.

Estoppel

An equitable remedy that stops a party from trying to establish a position or deny something that, if allowed, would create an injustice.

Ratification

The action of officially approving or confirming an agreement or act, making it valid.

Apparent Authority

Authority as suggested to a third party by the conduct of a principal; may exist even when there is no actual authority.