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Term of the Day...

"Conspicuous Consumption"

Conspicuous consumption is the purchase of goods or services for the specific purpose of displaying one's wealth.

Conspicuous consumption is a means to show one's social status, especially when publicly displayed goods and services are too expensive for other members of a person's class.

This type of consumption is typically associated with the wealthy but can also apply to any economic class.

Source: Investopedia