Conspicuous consumption is the term did thorstein veblen use to describe the behavior of those at the top of the social hierarchy when they engage in such activities as jetting off to a remote destination for dinner.
Conspicuous consumption is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly displayed products and services are too expensive for other people in a person's class, conspicuous consumption is a way to demonstrate one's social position.
acquiring and displaying pricey objects to give the impression that one is wealthy or of high status.
Conspicuous consumption includes things like wearing fur coats, diamond jewelry, and luxury cars.
Thorstein Veblen coined the phrase "conspicuous consumption" to describe how people at the top of the social scale behave when they do extravagant actions like flying to a far-off location for dinner.
Read more on consumption here: https://brainly.com/question/27438014
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