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Larry being motivated less by a desire for the new home than by a need to make others aware of his ability to buy it is an example of status symbol.
Give a brief account on status symbol.
A status symbol is an obvious, external representation of one's social standing and a sign of one's economic or social standing. Many upscale products are frequently viewed as status symbols. The sociological concept of a status symbol refers to how individuals and groups interact with and interpret diverse cultural symbols. It is a component of social and sociological symbolic interactionism. People who want great status frequently look for its symbols as well. Status symbols, like other symbols, are subject to changes in meaning or value over time and vary among nations and cultural regions according to their economies and technological advancements.
A big collection of laboriously hand-copied books, for instance, was once considered a sign of wealth and learning before the printing press was created. A private library was less of a status symbol in later decades as books became more widely available, however a significant collection still commanded respect.
Jade and pearls were key status symbols in several ancient East Asian cultures, only worn by royalty. The toga and its variations, as well as cotton in the Aztec Empire, were both legally prohibited in ancient Rome. Royalty was given access to exclusive colors like imperial yellow and royal purple, with severe consequences for unlawful use. Heraldry, which displays one's family name and history, was another typical prestige sign of the European Middle Ages.
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