Question

5. Who is a consumer? How was he connected with the seller of the ancient times? Define the term
Consumerism.​

Answer 1

Explanation:

Consumerism is a social and economic order that encourages the acquisition of goods and services in ever-increasing amounts. With the industrial revolution, but particularly in the 20th century, mass production led to overproduction—the supply of goods would grow beyond consumer demand, and so manufacturers turned to planned obsolescence and advertising to manipulate consumer spending.[1] In 1899, a book on consumerism published by Thorstein Veblen, called The Theory of the Leisure Class, examined the widespread values and economic institutions emerging along with the widespread "leisure time" in the beginning of the 20th century.[2] In it, Veblen "views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste. Both are related to the display of status and not to functionality or usefulness."[3]

Answer 2

Answer:

A consumer is a person or a group who intends to uses purchased goods, products, or services primarily for personal, social, family, household, and similar needs, not directly related to business activities.

Consumerism is a social and economic order that encourages the acquisition of goods and services in ever-increasing amounts