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Excessive buying on installment plans can lead to increased personal debt, which may result in financial instability for consumers. When individuals overextend themselves, they risk defaulting on payments, which can negatively impact their credit scores and future borrowing ability. Additionally, a surge in consumer debt can strain the economy by reducing overall spending power and increasing the risk of financial crises, as many consumers may face bankruptcy or foreclosure. This cycle can hinder economic growth and lead to broader financial instability.
What else can I help you with?
New industry spawned by the mass-consumption economy that encouraged still more consumption?
Advertising ( credit and installment buying")
Does buying goods from other countries hurt the economy?
No, the economy is built on trade and the circulation of money, by buying the goods you help the economy. By supporting a developing country's goods by buying them you help create demand for their industries and thus support their economy.
What was the effect of installment buying on the economy during the 1920's?
This helped people buy things and pay for them over a period of time. If someone didn't have all the money at one time they could pay it off week by week until they could pay it off
What were two signs of weakness in the 1920 us economy?
Two signs of weakness in the economy in the 1920's was that many people were buying on margin which means buying with loans, if people able to pay back the loan the would loose also buying with credit.
What economy that is based on selling as much as a country can and buying little in return?
Mercantilism
What are the advantages of buying something on an installment plan?
advantages of installment buying
New industry spawned by the mass-consumption economy that encouraged still more consumption?
Advertising ( credit and installment buying")
How did installment buying contribute to the consumers revolution?
Installment buying allowed people to own products before they had paied them off.
How can installment buying help cause depression?
Installment buying helps cause depression, because, it encourages one to do impulse buying, which can become a burden in repaying , causing depression.
A new way of buying called allowed Americans to take products home and pay a little at a time?
Buying on the 'installment plan' is probably the oldest concept, pre- credit card.
Installment buying is a good idea?
yes,
Buying stock on margin and buying on the installment plan are similar in that both?
They are both forms of borrowing.
How is buying on margin similar to buying on an installment plan?
Margin is only offer on purchase of securities.
How is buying on margin similar to buying an installment plan?
Margin is only offer on purchase of securities.
How is buying on margin similar to buying on an installment plans?
Margin is only offer on purchase of securities.
How did consumer installment buying affect the Great Depression?
cats
In 1920s people used installment plans to buy what?
The installment plans of the 1920s were pretty much the same as any other installment plans. Installment plans are credit systems where payment for merchandise/items is made in installments over a pre-approved period of time. In the 1920s, the items people could purchase with an installment plan included: automobiles, automobile parts, household appliances, radios, phonographs, pianos, and furniture.
