What term describes the increase in purchasing of new products and services, facilitated by more affordable technologies in the mid-20th century?

What term describes the increase in purchasing of new products and services, facilitated by more affordable technologies in the mid-20th century?

• A. Consumerism
• B. Market Growth
• C. Economic Expansion
• D. Retail Evolution

Answer: (A)

The term that best describes the increase in purchasing of new products and services, facilitated by more affordable technologies in the mid-20th century, is consumerism. This period saw a significant shift in the economy, as rising income levels, mass production techniques, and advancements in technology made goods more accessible to the average person. Consumerism refers to the cultural and economic phenomenon where increased consumption of goods and services is deemed desirable and often necessary for a healthy economy. During this time, marketing strategies evolved, encouraging consumers to buy more, leading to a shift in lifestyle that prioritized material possessions and new products. The post-war economic boom and the proliferation of goods available in stores exemplified the growth of consumerism, where the purchasing power of individuals dramatically increased. Market growth and economic expansion could describe broader economic trends but do not specifically focus on the individual's purchasing behavior influenced by shifts in technology and product availability. Retail evolution suggests changes in how products are sold but does not encompass the cultural implications and consumer behavior associated with the rise in consumption during this period.

The term that best describes the increase in purchasing of new products and services, facilitated by more affordable technologies in the mid-20th century, is consumerism. This period saw a significant shift in the economy, as rising income levels, mass production techniques, and advancements in technology made goods more accessible to the average person. Consumerism refers to the cultural and economic phenomenon where increased consumption of goods and services is deemed desirable and often necessary for a healthy economy.

During this time, marketing strategies evolved, encouraging consumers to buy more, leading to a shift in lifestyle that prioritized material possessions and new products. The post-war economic boom and the proliferation of goods available in stores exemplified the growth of consumerism, where the purchasing power of individuals dramatically increased.

Market growth and economic expansion could describe broader economic trends but do not specifically focus on the individual's purchasing behavior influenced by shifts in technology and product availability. Retail evolution suggests changes in how products are sold but does not encompass the cultural implications and consumer behavior associated with the rise in consumption during this period.