What Is Consumer Economy? Why Is It Important?

[Good-Person]

A consumer economy is a kind of economy that is much more focused on consumer. This means that such kind of economy is much more customer-centric and the consumers are the ones who tend to have much influence on the market. So, how can such kind of economy thrive more? Why is it so important?

 

[Frank]

I think a consumer economy is an economy where the GDP is driven by consumer spendings. I mean if care is not taken, inflation is going to be the other of the day. In a consumer economy, the government and private sectors should do everything possible to ensure that they keep the inflation rate in check.

 

[Good-Person]

I think a consumer economy is an economy where the GDP is driven by consumer spendings. I mean if care is not taken, inflation is going to be the other of the day. In a consumer economy, the government and private sectors should do everything possible to ensure that they keep the inflation rate in check.

So, you mean that competition is relative lower in such kind of economical conditions? I think that this might be possible because under such kind of economical conditions, the consumer might be the one who may hold more power. This sounds quite opposite to capitalistic economy.

 

[Heatman]

Well, a consumer economy isn't always the best because it's that which see most of the customers to be only interested in buying what they need. There no consideration for production or support for infant industry. Those who are into importation will be the one to gain in a consumer economy.