How did buying on credit create an economic boom in the 1920s?

Question

minustempo · Answer

more 'money' in active circulation

Allisianna · Answer

by enabling widespread consumerism

DaniGould · Answer

by allowing consumers to purchase expensive goods like cars and appliances on installment plans through small, regular payments, which fueled consumerism and drove demand.

ihy · Answer

Buying on credit created an economic boom in the 1920s by allowing consumers to purchase expensive goods like cars and appliances on installment plans through small, regular payments, which fueled consumerism and drove demand.

gelphielvr · Answer

@ihy wrote:

Buying on credit created an economic boom in the 1920s by allowing consumers to purchase expensive goods like cars and appliances on installment plans through small, regular payments, which fueled consumerism and drove demand.

thanks

ihy · Answer

@gelphielvr wrote:

@ihy wrote:

Buying on credit created an economic boom in the 1920s by allowing consumers to purchase expensive goods like cars and appliances on installment plans through small, regular payments, which fueled consumerism and drove demand.

thanks

No problem, lmk if you need help with anything else