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

Explanation:

Conspicuous consumption is a term used to describe expenditures on goods and services purchased primarily for the purpose of showing wealth. In the mind of the conspicuous consumer, such display serves as a means of having or maintaining social status before a social group, which socially determines objects and goods, such as a classification of higher or lower status. An example of this can be seen in the question above, where the girl bought a very expensive purse just to show that she possessed something luxurious and give an impression of wealth.