I would not really call it a issue of economics, since you are assuming someone elses economic situation it becomes a social issue.
You are matching your perception of someone with your pre-existing notions of them - typifying them in a sense. There are so many things to consider, really.
If you see someone in a Lamborghini, you might assume they are rich. But they may in fact be massively in debt. Therefore the analysis becomes a social one - about there access to funds or cars and not necessarily related to their economic status.
If you see a mother with a phone you think she couldn't / shouldn't be able to afford (I realise they used this example as a past belief but may as well use it). The phone could have been a gift, it could have been won - there are so many factors that you are reducing to one.