Well, it may just be a term your instructor uses. I've always heard the term "chord inversions" used to describe fingering chords in different fretboard positions, and "chord substitutions" to describe using 7ths, 9ths, etc. in place of a "regular" maj or min............but that's just around here in country/hillbilly territory.
Also, the term "farmer chords" is used 'round these parts to describe 1st position open chords....... an elitist term, as you say.
I do feel knowing the chord shapes, names, and keys in as many positions possible is a very desirable thing. If you learn them as you go, it makes it much easier to "set up your next shot" if you will (much as you would do in a game of pool). Not having to move far up or down the fretboard is handy, although chords played in certain positions have certain sounds that can add or detract from the sound of a song.
CB, you say take and F and slide it up......... good! That's referencing the chord to the E string. Open is E, 1st fret F, 3rd fret G, 5th=A, 7th=B.
You can then find the other position chords in various places and reference them in the same manner. Open A major at the 2nd fret becomes D major if you barre at the 5th fret and hold the D,G, and B strings at the 7th fret.
Hope that helps and wasn't confusing......
Guitars
Wilburn Versatare, '52 FrankenTele(Fender licensed parts), Fender USA Roadhouse Strat, Fender USA Standard B-bender Telecaster, Agile AL 3000 w/ WCR pickups, Ibanez MIJ V300 Acoustic, Squier Precision Bass,
Amps
Ceriatone Overtone Special, Musicman 212 Sixty-Five, Fender Blues Jr., Peavey Classic 30, Fender Super Reverb, Traynor YCV-40 WR Anniversary w/ matching 1x12 ext. cab, Epiphone SoCal 50w head w/ matching 4x12 cab (Lady Luck speakers), Avatar 2x12 semi-open back cab w/ Celestion speakers
Pedals
Digitech Bad Monkey, Digitech Jamman, DVM's ZYS, Goodrich volume pedal