Question

Writing an article on Consumerism​

Answer 1

Answer:

Consumer movement is a universal phenomenon. The goods or services available may be in abundance or in short supply, but the position of the consumer is weak, in relation to the seller. Sellers want customers, as buyers and not as complainants. The frustration and bitterness on the part of consumers, who have been promised much is indeed great, but they realize less.

It may be due to the existence of sellers’ market, where consumers are voiceless. There are many practices whereby consumers are not only being denied their basic rights but are being deceived too. Who is a consumer? A consumer is an individual who consumes goods-manufactured by firms or created by nature (air, water etc.) and services offered by government or firms-hospital, educational institutions.

Consumerism is defined by Richard H. Buskirk and James as “Organized efforts of consumers seeking redress, restitution and remedy for dissatisfaction they have accumulated in the acquisition of their standard of living.”

Explanation:

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Answer 2

Answer:

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]

In economics, consumerism may refer to economic policies which emphasise consumption. In an abstract sense, it is the consideration that the free choice of consumers should strongly orient the choice by manufacturers of what is produced and how, and therefore orient the economic organization of a society (compare producerism, especially in the British sense of the term).[4] In this sense, consumerism expresses the idea not of "one man, one voice", but of "one dollar, one voice", which may or may not reflect the contribution of people to society.