Examlex
A firm that wishes to maximize profits will continue to purchase capital goods until the
Occupational Prestige
The collective societal perception of the respect, admiration, or importance associated with a job or career.
Socio-economic Status
A measure of an individual's or group's economic and social position in relation to others, based on income, education, and occupation.
Conspicuous Consumption
The act of buying and using products to make a statement about social status rather than to meet the basic needs.
Closed System
A social system in which status is based on attributes ascribed at birth.
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