Among the middle class youth of India I-Phone has become extremely popular as it reflects their social standing. Which concept can be best associated with this example?

Status Symbol

The correct answer is Option (2) → Status Symbol

Max Weber, was among the first to point out that the goods that people buy and use are closely related to their status in society. He coined the term status symbol to describe this relationship.

A status symbol is an object or item that is perceived to be associated with a certain social status or prestige. In this case, the iPhone serves as a marker of social standing and affluence among middle-class youth in India.