Needs and Wants and the concept of credit in the early 1900s.

With the boom of the 2nd Industrial Revolution in the late 1800s, consumers were wanting luxury items for their home. People looked beyond the basic needs in order to survive and moved to the wants. Check out the video clip below to learn more about Needs and Wants.

Businesses and banks helped people have access to these items with by using different types of credit to purchase items.
Check out the file below to see the different types of payment methods that are available to purchase items.

Advertisers appealed to consumers ways they could purchase luxury items using credit.
Check out the power point to see what items they were advertising to make their lives better.

How do you think advertisers changed people's idea of needs and wants with their ads and promoting the idea of buying items using credit? What are some good points of buying on credit? What about bad points? What effect do you think the concept of buying on credit do for our economy over time?

Check out the video clip below that points how the quality of life increased with the new inventions & the use of credit to help Americans enjoy a higher quality of life in the 1920s.