The acquisition and visible display of luxury goods and services to demonstrate one's ability to afford them is best known as

Name: The acquisition and visible display of luxury goods and services to demonstrate one's ability to afford them is best known as
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Conspicuous consumption specifically refers to the act of using luxury goods and services to display one's wealth and status. This term was coined by economist Thorstein Veblen in his book "The Theory of the Leisure Class" in 1899.

The Acquisition and Visible Display of Luxury Goods and Services