Graph

question 8

Essay

Graph .

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Definitions:

Status Symbols

Objects or signs that signify the social status, wealth, or prestige of the individual possessing or displaying them.

Reallocation Spending

the process of shifting funds from one category of expenses to another, typically in response to changing priorities or circumstances.

Low-Income Consumer

Consumers with limited financial resources, influencing their purchasing behavior and product choices.

Material Goods

Physical items produced for consumer purchase and use, as opposed to services or digital products.