Credit

Question 1

What is meant by credit?

Answer 1

Many people didn’t have much money to buy new consumer goods so they bought them on credit.
They paid for consumers goods bit by bit but would eventually pay for the whole amount and some more in interest.

Question 2

What did credit lead to?

Answer 2

It lead to many American’s being in debt.

Although no one saw this as a problem because the economy was booming, people had jobs and could make repayments.