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This quiz consists of 5 multiple choice and 5 short answer questions through The Pecuniary Standard of Living.

Multiple Choice Questions

1. What does consumption yield to the individual?
(a) Reputation.
(b) Wealth.
(c) Utility.
(d) Status.

2. What does Veblen say makes wealth desirable?
(a) It gives renown.
(b) It resolves disputes.
(c) It is honorable.
(d) It provides happiness.

3. What does Veblen say happens to those who need to work but do not work?
(a) They are taken care by the stronger workers.
(b) They become beggars.
(c) They are exiled.
(d) They take care of the children and elders.

4. What does Veblen say happens whenever people acquire a greater ability to pay?
(a) They improve their quality of life.
(b) They invest their money in the community.
(c) They pass their money to their children.
(d) They buy more items of conspicious consumption.

5. What does Veblen say was the earliest form of ownership?
(a) Ownership of women.
(b) Ownership of hunting rights.
(c) Ownership of songs.
(d) Ownership of land.

Short Answer Questions

1. Who engages in vicarious consumption?

2. How does Veblen define leisure?

3. What incentive does Veblen say results from the desire to own property?

4. What does Veblen call the code of conduct for servants?

5. What does Veblen say possessions indicate in an ownership society?

(see the answer key)

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