Questions: 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: Designer consumerism Popular consumerism Credit card consumerism Conspicuous consumption

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: Designer consumerism Popular consumerism Credit card consumerism Conspicuous consumption
Transcript text: 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: Designer consumerism Popular consumerism Credit card consumerism Conspicuous consumption
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Solution

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The answer is D: conspicuous consumption.

Explanation for each option:

A. Designer consumerism: This term is not widely recognized in economic or consumer behavior literature. It might imply purchasing designer goods, but it does not specifically capture the social aspect of buying to impress others.

B. Popular consumerism: This term generally refers to the widespread purchasing habits of the general public. It does not specifically address the motivation of buying to display wealth or status.

C. Credit card consumerism: This term would refer to the act of purchasing goods using a credit card. While Hope used a credit card, the focus of the question is on the motivation behind the purchase, not the method of payment.

D. Conspicuous consumption: This term, coined by economist Thorstein Veblen, refers to the act of buying expensive items to display wealth and status rather than to cover basic needs. Hope's motivation to buy the designer purse so that others would covet it and wish to be like her fits this definition.

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