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People who suffer from status inconsistency__________________?

Correct answer: B. tend to suffer more frustration and dissatisfaction than those whose status is consistent

  • A. usually do not worry about it
  • B. tend to suffer more frustration and dissatisfaction than those whose status is consistent
  • C. work hard to accumulate wealth to make up for it
  • D. willingly accept a lower status in return for social recognition

Explanation

Status inconsistency occurs when a person's rankings in class, status or power do not match, such as high education but low income. This mismatch commonly produces greater frustration and dissatisfaction.

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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.

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