PSY 322 Week 4 DQ 1 What is the correlation between social status & income? How does this affect consumer behavior? Provide examples. Each person is put into a social category. Social category is actually the status of people depending on their economic position, what you have, & just how you spend. Therefore brings in the income element. The sum of income, education, race, ethnic group & so on places you into a particular social category; for example Upper Category, Middle Category, or Low Category. Being upper category is regarded as superior having income originating from either inherited money or from the kin of occupation held. Middle category you are white-collar employees. Lower category may rnge from people on welfare to those people with a really reduced income. Various levels...