Conspicuous consumption

Name: Conspicuous consumption
Brand: Quizplus
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Question

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Conspicuous consumption was a phrase coined by Thorstein Veblen in his book "The Theory of the Leisure Class" in 1899. He used the term to describe the spending of money on luxury goods or services primarily for the purpose of displaying one's wealth rather than for any practical utility they may provide. Veblen argued that this behavior was often driven by a desire to gain status or social standing within one's community.

Conspicuous Consumption