Paying $100 for a designer T-shirt would be an example of what Veblen calls conspicuous ________________.

Question

Quizplus · Accepted Answer

Veblen introduced the concept of conspicuous consumption to describe the spending of money on and the acquisition of luxury goods and services to publicly display economic power. Buying a $100 designer T-shirt fits this concept, as it's more about displaying wealth and status than the actual utility of the item.

Paying $100 for a Designer T-Shirt Would Be an Example