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The new cities' glittering consumer economy was symbolized especially by?
large, elegant department stores
What economy of the soviet union differed most from the economy of the US in the?
The Soviet Union's economy was centrally planned, meaning that the government controlled all production, distribution, and pricing of goods and services, which aimed to eliminate market competition and private ownership. In contrast, the U.S. economy operated on principles of capitalism, characterized by market-driven forces, private enterprise, and consumer choice. This fundamental difference led to varying levels of innovation, efficiency, and consumer satisfaction, with the U.S. economy typically producing a wider variety of goods tailored to consumer demand. Additionally, the Soviet focus on heavy industry often resulted in consumer goods shortages, highlighting the inefficiencies of a planned economy.
What was the major result of consumer overconfidence in the economy in 1920?
many Americans purchased goods on credit
Did increased consumer spending allow the economy to grow after World war 2?
ww3 is not a war
What groups were left out of the consumer era in the 1920's?
In the 1920s, the consumer era primarily benefited urban, middle-class white Americans, while several groups were largely excluded. Rural populations, particularly farmers, faced economic challenges and were not integrated into the consumer economy. Additionally, African Americans, especially in the Jim Crow South, and many immigrants faced systemic barriers that limited their access to consumer goods and services. Women, despite gaining some freedoms, often encountered societal restrictions that hindered their full participation in the consumer culture.
The new cities' glittering consumer economy was symbolized especially by?
large, elegant department stores
Why is the consumer considered ''King'' in a capitalist economy?
The consumer is considered King, in a capitalist economy, because the spending of the consumer is what drives the entire economy. The more the consumer spends the better the economy becomes.
How the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
Explain how the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
Why is the consumer king in a market economy?
because the market economy is driven by demand and consumer is the one who demands
Explain how the decisions you make as a consumer influence the economy.?
everyone as a consumer affects the economy on what they spent and how they spent
What motivates the Market economy?
the purchase of a consumer (CONSUMER) (: welcomeee
Why did the American economy change from a producer durable goods economy to a consumer durable goods economy?
yes
In which type of economy are choices made by consumers?
market
How do increase in consumer spending affect the economy?
With an increase in consumer spending, there will be an increase in demand for goods/services, and therefore an increase in production, which drives the economy up.
What is the definition for the consumer?
The consumer in the modern sense is the customer who buys products and keeps the economy running.
What are the two main flows in an economy?
income and consumer
