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In the 1920's many American consumers began to adopt the practice of buying goods on credit?
Wiki User
∙ 11y ago
buying on credit was the "item" that lead to the great depression. * people started buying luxury items * people borrowed money to invest in stocks * thought they could repay the loan when they sold their stocl or profit * b/c of so much buying; people were making ALOT of money * stores sold LOTS of goods; that made value of stock rise * at some pojnt; people could no longer buy things b/c they had spent all their money into paying off their credit * inflamation started; that lead && started the great depression
Wiki User
∙ 15y ago
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In 1919 General Motors Acceptance Corporation changed the financial landscape of many American consumers by?
General Motors Acceptance Corporation changed the financial landscape of many American consumers by allowing consumers to buy cars with credit.
Buying on credit?
Buying on credit is also called Buying on Margin
How businesses promote credit to consumers?
Businesses promote credit to their consumers through the allowing of consumers to purchase products through credit transactions provided by the business.
What companies offer credit cards to consumers with no credit history?
Capital One, American Express, First progress, PayPower Discover it, BuyRight, Account Now, Readydebit, and Cerulean are example of companies that offer credit cards to consumers with no credit history. There are probably plenty more companies but these are the best known ones.
What are the most famous credit cards?
The most famous credit cards based on early adoption by consumers and popularity of advertisements are American Express, Diners Club, Visa and Mastercard.
1920 buying on credit was called buying on?
Buying on Margin
What two events occurred 1920 drastically changed the typical American consumer's buying habits?
The automobile assembly line and readily available credit for buying automobiles
What credit agency does ford motor credit use when checking consumers credit?
experian
What two events that occurred around 1920 drastically changed the typical American consumer's buying habits?
the automoblie assembly line and readily available credit for buying automoblies
What is another name for buying on credit?
buying on margin
What is buying stock on credit called?
Buying on margin.
On average how many credit obligations do consumers have on their credit report?
16
