USA HISTORY

Detailed explanation-1: -Consumerism in the 1920s was a state where individuals were encouraged to buy goods in increasing quantities. It was defined by an impulsive desire to spend money. People were caught up in the idea of how only rich people owned a lot of goods-driving a purchasing frenzy.

Detailed explanation-2: -Consumption in the 1920s The prosperity of the 1920s led to new patterns of consumption, or purchasing consumer goods like radios, cars, vacuums, beauty products or clothing. The expansion of credit in the 1920s allowed for the sale of more consumer goods and put automobiles within reach of average Americans.

Detailed explanation-3: -Answer: Ours is called a consumer economy because consumption is nearly 70% of our GDP. Countries like China, are more investment-driven with investment (often by the public sector) at nearly 50% of GDP.

Detailed explanation-4: -A major factor in the economic prosperity of the 1920s would be the development and popularity of new technologies used both by industry and by consumers, especially automobiles, airplanes, radios, and appliances like washing machines and vacuum cleaners.