Question

Name the following: The concept that the increasing consumption (purchase) of goods is beneficial for the economy.

Answer 1

Consumerism is the concept that increasing consumption of goods is beneficial for the economy. It is encouraged through marketing and advertising, attaching meanings to commodities and creating a desire for certain goods.

Step-by-step explanation:

The concept that the increasing consumption of goods is beneficial for the economy is known as consumerism. Consumerism is the belief that the purchase and possession of goods is essential for personal happiness and economic well-being. In industrial societies, consumerism is encouraged through marketing and advertising, which attach meanings to commodities and create a desire to own or consume certain goods.