Age of Affluence

Question 1

What was micro economics?

Answer 1

On a micro (smaller scale) people in small industries continued to grow - led to a rise in peoples living standards as they could afford more - consumer goods and luxury items

Question 2

Rising living standards

Answer 2

• Mens weekly wages increased from £8.15 to £8.35
• Huge increase in personal savings - led to an increase in home ownership and car sales

Question 3

Impact on Consumerism

Answer 3

Higher income - more people bought consumer goods - TVs, washing machines, fridges and, furniture was bought more readily through hire purchase (monthly installments)

Question 4

Affulence

Answer 4

• led to an increase in leisure oppoutunities - between 1957 to 1959 number of households owning a TV rose by 32%
• people had more money to develop hobbies such as DIY and gardening

Question 5

Car ownership

Answer 5

Boom rose by 25% between 1957 to 1959 led to roads being built including motorways.
- Between 1957 to 1963, 1,200 miles of new or upgraded road had been completed

Question 6

Holidays

Answer 6

60,000 holidayed each week at Butlins

Question 7

Advertising

Answer 7

ITV launched 1955 - people became more accustomed to glossy adverts inbetween popular programs