Question

Thorsten Veblen's concept of conspicuous consumption asserts that Select one: a. we must merely possess power and wealth in order to gain social prestige. b. wealth and power must be put on public display. c. little evidence of wealth is required. d. we must engage in appropriate conspicuous buying rituals to maintain our personal identity.

Answer 1

Answer: Option(B) is correct

Step-by-step explanation:

Conspicuous consumption is defined as the theory introduced by Veblen which states that consumers spend their money for buying expensive goods for displaying their wealth and power rather than investing on real requirements .

Other option are incorrect because conspicuous consumption theory of Thorsten Veblen does not depicts to about showing little or mere wealth display. Personality identity is not maintained through conspicuous buying.Thus, the correct option is option(B).