Question

Hope is desperate for the new designer purse that she saw while window shopping at her local mall. She knew every girl in school would covet her bag and wish to be like her. When she walked in, she whipped out her credit card, and purchased the $5,000 bag. This kind of purchasing is called:
Conspicuous consumption

Answer 1

Answer:

Conspicuous consumption

Explanation:

Based on the scenario being described within the question it can be said that this kind of purchasing is known as Conspicuous consumption. This term refers to when an individual buys goods  or services with the main focus/goal of publicly display their economic prowess. Which is what Hope is doing in this scenario by buying an expensive designer bag in order to make her peers jealous.