Which of the Following Characteristics Constitutes One's Socioeconomic Status

question 52

Multiple Choice

Which of the following characteristics constitutes one's socioeconomic status?

• A)level of income,level of education,and prestige of occupation
• B)level of income,level of political participation,and number of friends
• C)level of income,level of political participation,and level of intelligence
• D)level of education,number of friends,and age

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Definitions:

Necessity

An essential good or service required for basic survival or societal functioning.

Elastic Demand

describes a market situation where the demand for a product significantly changes in response to changes in its price.

Inelastic Demand

A situation where the quantity demanded of a good or service changes little when its price changes.

Movie Theaters

Venues specifically designed for the exhibition of films to the public, where viewers watch movies on large screens.