How does an individual's social class influence the products he or she buys?
What will be an ideal response?
A social class is an open aggregate of people with similar social rank. To some degree, individuals within social classes develop and assume common behavioral patterns. They may have similar attitudes, values, language patterns, and possessions. Because people most frequently interact with others within their own social class, people are more likely to be influenced by others within their own class than by those in other classes. Social class also influences people's spending, saving, and credit practices. It can determine the type, quality, and quantity of products a person buys and uses. Behaviors within a social class can influence others as well. Most common is the "trickle-down" effect, in which members of lower classes attempt to emulate members of higher social classes, such as purchasing desirable automobiles, large homes, even selecting certain names for their children. Social class also affects an individual's shopping patterns and types of stores patronized.
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Sometimes very high ________ costs are recognized before a project begins and reducing these costs through shorter project duration becomes a high priority.
Fill in the blank(s) with the appropriate word(s).
UPS has had to develop communication strategies to change perceptions and increase awareness about ___________
a. across-the-board rate increases for all services that are a result of recent rise in fuel costs b. new same day delivery routes to most major cities across the continental US c. other services they offer, including supply chain management and financial services d. eco-friendly protocols, including hybrid trucks and packaging material recycling, that have been implemented e. cuts in employee benefits
Describe the cost accumulation process in a traditional manufacturing environment versus a just-in-time (JIT) environment
In a free trade area, members drop their tariffs with one another,
A. but each retains external tariffs. B. but their duties with one another remain in force. C. and they also combine their tariffs with other nations. D. and labor can move freely among the members.