Question

what is meant by conspicuous consumption​

Answer 1

expenditure on or consumption of luxuries on a lavish scale in an attempt to enhance one's prestige is called conspicuous consumption.

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Answer 2

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Conspicuous consumption is a term introduced by the Norwegian-American economist and sociologist Thorstein Veblen in his book "The Theory of the Leisure Class" published in 1899. The term refers to consumers who buy expensive items to display wealth and income rather than to cover the real needs of the consumer.

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