How was installment buying both blessing and a curse in the 1920s?

History

1 answer:

Shtirlitz [24]3 years ago

5 0

<h2><u>Answer:</u></h2>

Installment Plans were credit frameworks where installment for stock/things is made in portions over a pre-affirmed timeframe. During the 1920s, the things individuals could buy with a portion plan included: autos, car parts, family unit apparatuses, radios, phonographs, pianos, and furniture.

At the point when individuals lost their positions and could never again make installment that were purchased from the store or organization that set up the portion plan, banks began to lose heaps of cash from unpaid portion designs. These unpayed advances added to the Great sorrow in 1929.

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