Question

Which of the following statements is/are true regarding consumerism?

• A. Consumerist lifestyle has become status symbol
• B. Consumerism is directly linked with reputation of lifestyle
• C. Both A and B
• D. None of these

Answer 1

Answer: (C)

Both A and B

Social and economic order and ideology that encourages the acquisition of goods and services in ever-increasing amounts is called consumerism. It involves protection and promotion of consumer interests. The main reason for growing consumerism is commercialization. It is the process of introducing a new product or production method into commerce to increase trade. Buying commercialized products have become a status symbol and are linked to the reputation of people.