https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m By: Jade Stephenson en-us 2021-03-30 17:38:27 UTC 2021-03-31 03:30:00 UTC hello@padlet.com jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369064819 This wall will provide information regarding the importance of consumer credit on the economy. Consumer credit, also referred to as consumer debt, refers to the credit given to consumers without having to pay with their money at the time of a purchase. Consumer credit has a huge impact on an economy; explore this page to learn how!]]> 2021-03-30 17:49:01 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369064819 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369496326 This article discusses the five factors that determine spending, and these include: disposable income, income per capita, income inequality, household debt, and consumer expectations.

I choose this article because it provides information regarding what contributes to consumer spending. By understanding these factors, one can understand how the economy operates, what direction the economy might be headed.]]> 2021-03-30 19:44:19 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369496326 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369699383 This video provides a concise overview of what the term "Economy" means and the basic functions of it. 

I chose this video because an understanding of what an economy is and the basic principles of how one can function is important in understanding the topic of how consumer credit impacts the economy. ]]> 2021-03-30 20:57:04 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369699383 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369704832 This video provides an overview of what consumer credit is and a brief overview of it's evolution to the current era. The end of the video eludes to the potential of a economic crisis if the trend of everyone relying on credit/debt to make purchases continues. 

I choose this video as it provides essential information to understanding credit from a macro-economic prospective. It allows insight into how consumer credit does not merely impact the individual spending it, but rather the entire economy. ]]> 2021-03-30 20:59:29 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369704832 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369766002 This video provides a detailed overview all things credit related. The concept of credit, the different types of credit, and both the advantages and disadvantages of credit are all explained in this video.

This is an excellent source of information to ensure ones understanding on credit. Without understanding consumer credit, one is unable to comprehend how it impacts the economy. Therefore, this video is essential in beginning to understand that credit has a greater impact than on the individual using it.  ]]> 2021-03-30 21:29:39 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369766002 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369785374 This graphic shows some of the commonly made purchases people make using a form of credit. This image brings awareness to the fact that at some point in everyone's life there is a high probability that credit will be used. ]]> 2021-03-30 21:39:42 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369785374 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369790303 It is normalized in Western society for people to always want more, or want the newest item. This is one of the contributing factors of consumer spending and can partially explain why people spend money on credit, despite not having the money to re-pay it efficiently.]]> 2021-03-30 21:42:28 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369790303 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369801027 This photo represents the potential of an economic crisis and touches on how consumers and credit can contribute to this. ]]> 2021-03-30 21:48:37 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1369801027 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370012294 This article discusses how consumer spending is essential for economic growth for all economies. The article continues to explain how this is true in Canada though explaining common types of consumer debts, trends of consumer debt over decades, an explanation on why consumer spending matters in the economy, and a conclusion that summarizes why consumer spending is vital in a growing economy.

I chose this article because it provides an excellent overview of consumer credit/debt and its relationship to the Canadian economy. Most articles I have found on this topic pertains to the Unite States, thus, this article was of value to fellow residents of the country referred to as Canada. ]]> 2021-03-31 00:01:46 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370012294 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370410238 This web-page provides data on Canadian consumer credit/debt statistics. It displays consumer credit from 2020-2021 and the drastic different due to COVID lockdowns. 

I chose this we-page due to its visual representation of how credit is greatly impacted by the economy, and how the economy is doing also impacts ones individual credit.  ]]> 2021-03-31 02:48:29 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370410238 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370421762 I was the most surprised to make the connection between consumer credit, the growth in the economy due to this, and the creation of more jobs and employment opportunities this enables. ]]> 2021-03-31 02:53:56 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370421762 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370422765 This topic is interesting to me because I am already contributing to the economy by using a credit card occasionally. Realizing how my consumer credit impacts the economy as a whole is extremely interesting information!]]> 2021-03-31 02:54:24 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370422765 jadestephenson https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370423647 If I was to pass on any piece of this information to a family member or friend, I would inform them that consumer credit is an essential element in a growing economy and it enables the creation of more employment! However, it is crucial for one to track how much they are spending and making to avoid serious financial consequences. ]]> 2021-03-31 02:54:50 UTC https://padlet.com/jadestephenson/6dkeqv0l4iy7ca9m/wish/1370423647