Status symbol

Status symbol,

Definition of Status symbol:

  1. A possession that is taken to indicate a persons wealth or high social or professional status.

  2. A status symbol is generally an object that means to signify its owners' high social and economic standing. Although the objects that act as status symbols change over time, they are always linked to the primary differences between the upper and lower classes within the society. In capitalistic societies, status symbols are most often tied to monetary wealth. However, in places where warriors are respected, for example, a bodily scar can represent honor or courage, and thus become a status symbol. .

  3. Expensive goods like luxury vehicles, large houses, and watches that can cost more than a downpayment on a home are mostly out of reach for lower economic classes, so these items have become status symbols. Because much of the utility derived from status symbols comes from their high price, if the price of a status symbol goes up it may actually increase its demand, rather than diminish it. A product that exhibits this phenomenon is known as a Veblen good.

  4. Item acquired less for its utility, and more for its use as a visible sign of membership in a particular social class or group.

Synonyms of Status symbol

Symbol, Indicator, Mark, Sign, Hallmark, Trademark, Status symbol

How to use Status symbol in a sentence?

  1. What serves as status symbols often changes as a culture and its values change.
  2. A status symbol is generally an object that means to signify its owners' high social and economic standing.
  3. The palace was built as a status symbol.
  4. One's vocation also may dictate various status symbols, and certain types of uniforms may read as status symbols.

Meaning of Status symbol & Status symbol Definition