Cooper Geo 3303 Final Exam Review Questions & Answers 2023/2024

Cooper Geo 3303 Final Exam Review Questions & Answers 2023/2024 Know the simple definition that we provided for consumerism - ANSWER-The modern form of consumption Know where the first department stores appeared in the 1830s - ANSWER-Paris •Know what is used to help create new demand or new needs for products among consumers to help capitalism thrive - ANSWER-New Markets & Advertising •Be able to define niche market; be able to identify a type of product that would best be classified as serving a niche market - ANSWER--Luxury items typically a niche market product -Consumers looking for specialized products or services in specialized markets. Generally, luxury items: high prices, high quality with brand loyalty. Know what sort of organizations generated the backlash against the rise of consumerism in the places where it originated as well as the places it spread to - ANSWER-Initial resistance to consumerism from religion; in most major religions there is an anti-consumerism attitude •Be able to identify the social interaction or relationship that consumerism is said to have helped "invent" - ANSWER-dating layaway - ANSWER--Putting an item on "hold" in the store until you can pay it off -People save, pay for an item and own it once it is fully paid for, not before. Know what company introduced financing for automobiles during the Great Depression, helping create the credit industry - ANSWER-general motors