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5. What is Consumerism? How has consumerism affected firms in 2022? 6. If you are 25 years old and saving for a small business down payment or house, what least risky asset classes should you invest in? 7. If you have met your savings goal, what asset classes would you invest in to create wealth for your future? What is consumerism in simple words? Consumerism is the idea that increasing the consumption of goods and services purchased in the market is always a desirable goal and that a person's wellbeing and happiness depend fundamentally on obtaining consumer goods and material possessions. Mar 18, 2021 The definition of consumerism is the protection of the rights and interests of the general pool of buyers, or an obsession with buying material goods or items. Laws and rules that protect people who shop and spend are examples of consumerism. An obsession with shopping and acquiring stuff is an example of consumerism. The difference between Capitalism and Consumerism is that Capitalism gives people private ownership and is based on the generation of profit from products, while Consumerism is based on the product consumption by the customer and aims to govern the market, which will hold the consumer's interest