The ongoing increasement of an individual's want and need for varying goods and services is called Conspicuous Consumption.
Conspicuous Consumption serves as the term that describes and explains the consumer practice of buying as well as using goods of a higher quality and price.
It should be noted that the Conspicuous consumption serves as an act of displaying ostentatious wealth so as to be able to gain status and reputation in society.
Hence, The ongoing increasement of an individual's want and need for varying goods and services is called Conspicuous Consumption.
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