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Final

Management and Organizational Studies 3321 Final: solomon_ch12_tifExam


Department
Management and Organizational Studies
Course Code
MOS 3321
Professor
Scott Connors
Study Guide
Final

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1
Copyright © 2017 Pearson Canada Inc.
Consumer Behaviour, 7e (Solomon)
Chapter 12 Income, Social Class, and Family Structure
1) Victor wanted to be able to show Marilyn's parents that he had some money, too, so he wore
his best Italian suit and his TAG Hauer watch. They were Victor's way of advertising his
achievements. Products used in this way are called:
A) status utilities.
B) fraudulent symbols.
C) social class indicators.
D) status symbols.
Answer: D
Type: MC Page Ref: 341
Skill: Application
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
2) Products that are bought and displayed as markers of social class are called:
A) status symbols.
B) wealth markers.
C) possessions.
D) social symbols.
Answer: A
Type: MC Page Ref: 341
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
3) Canada is the only G7 nation to have fully recovered in terms of employment and GDP. This
has been attributed to:
A) more women entering the work force.
B) growth of computer-related industries.
C) a sound financial system.
D) a growing working immigrant class.
Answer: C
Type: MC Page Ref: 342
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

2
Copyright © 2017 Pearson Canada Inc.
4) According to 2008 global statistics, almost 2.5 billion people lived on how much money per
day?
A) Less than $2
B) Less than $5
C) Less than 20 cents
D) $20
Answer: A
Type: MC Page Ref: 341
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
5) Which statement reflects the average Canadian's standard of living?
A) It is relatively high by international standards but declining.
B) It is relatively low by international standards and continues to decline.
C) It is moderate by international standards and stable.
D) It is relatively high by international standards and continues to improve.
Answer: D
Type: MC Page Ref: 341
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
6) In dual-income households without children, approximately what percentage of women earn
more than their spouses?
A) 10%
B) 20%
C) 30%
D) 40%
Answer: C
Type: MC Page Ref: 342
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
7) Which is the fastest-growing segment of the working Canadian population according to
Statistics Canada?
A) mothers with school-age children
B) mothers with pre-school children
C) single mothers
D) baby boomers
Answer: B
Type: MC Page Ref: 342
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

3
Copyright © 2017 Pearson Canada Inc.
8) Consumer demand for goods and services depends on:
A) target marketing and PR.
B) economics and finance.
C) ability and willingness to buy.
D) the money to buy the product or service.
Answer: C
Type: MC Page Ref: 342
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
9) In 2013, according to Statistics Canada, what approximate percentage of Canadians had a
college diploma and/or university degree?
A) 30%
B) 40%
C) 50%
D) 60%
Answer: D
Type: MC Page Ref: 342
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
10) The money available to a household over and above that required for a comfortable standard
of living is termed:
A) diversion income.
B) discretionary income.
C) consumer income.
D) disposable income.
Answer: B
Type: MC Page Ref: 343
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
11) Which is the best description of discretionary income?
A) money that the household saves for emergencies and does not spend
B) the money available to a household after tax
C) the total gross income the household has earned
D) the money available to a household over and above that required for a comfortable standard
of living
Answer: D
Type: MC Page Ref: 343
Skill: Concept
Objective: L12-01 Understand that income patterns and social class influence how we spend our
money.
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