Briefly Explain Why Americans Amassed Record Amounts of Debt in the 1990s

question 144

Essay

Briefly explain why Americans amassed record amounts of debt in the 1990s and why the free- spending trend has ended.

---

Definitions:

Public Relations

The strategic communication process that builds mutually beneficial relationships between organizations and their publics.

Publicity

It involves creating awareness about a product, service, or company in the public domain, often through media coverage, without direct payment.

Credible

Being believable or worthy of trust, often based on a proven track record or evidence.

Penetration Pricing

A pricing strategy where a product is initially offered at a lower price to attract customers and gain market share.