Status Symbol

Status Symbol
A status symbol is an object which is meant to signify its owners' high social and economic standing. Although which things act as status symbols changes over time, they are always linked to the primary differences between the upper and lower classes within the society. In capitalist societies, status symbols are most often tied to monetary wealth.

Expensive goods like luxury vehicles and large houses are mostly out of reach for lower economic classes, so these items serve as status symbols indicating that their owners are able to afford their extremely high prices. Since much of the utility derived from status symbols comes from their high price, an increased price for a status symbol may actually increase its demand, rather than diminish it. A product which exhibits this phenomenon is known as a Veblen good.


Investment dictionary. . 2012.

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  • status symbol — ˈstatus ˌsymbol noun [countable] something you own that people think is a sign of your important position, wealth etc: • Cellular phones were at one time a status symbol. * * * status symbol UK US noun [C] ► something that you own that you think… …   Financial and business terms

  • status symbol — status .symbol n something that you have or own that you think shows high social rank or position ▪ A Rolls Royce is seen as a status symbol …   Dictionary of contemporary English

  • status symbol — n. a possession, practice, etc. regarded as a mark of social status, esp. high social status …   English World dictionary

  • status symbol — status ,symbol noun count a possession that someone is proud of and considers to be a symbol of their money or power …   Usage of the words and phrases in modern English

  • status symbol — status symbols N COUNT A status symbol is something that a person has or owns that shows they have money or importance in society …   English dictionary

  • status symbol — ► NOUN ▪ a possession taken to indicate a person s wealth or high status …   English terms dictionary

  • Status symbol — A status symbol is a visible, external denotation of one s social position and indicator of status. [Cite book |last=Cherrington |first=David J. |title=Organizational Behavior |pages=384 |date=1994 |isbn=0205155502 |publisher=Allyn and Bacon]… …   Wikipedia

  • status symbol — UK / US noun [countable] Word forms status symbol : singular status symbol plural status symbols a possession that someone is proud of and considers to be a symbol of their money or power …   English dictionary

  • status symbol — {v. phr.} Signs of wealth and prestige. * /A new yacht or airplane might be a status symbol to a bank manager./ …   Dictionary of American idioms

  • status symbol — {v. phr.} Signs of wealth and prestige. * /A new yacht or airplane might be a status symbol to a bank manager./ …   Dictionary of American idioms

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