The First Comprehensive System of Social Welfare Passed in American

question 66

Short Answer

The first comprehensive system of social welfare passed in American history was ____________________.

---

Definitions:

Consumer Demand

The desire and willingness of consumers to purchase goods and services at various price points, driving the market dynamics for those goods and services.

Profitability

The ability of a company to generate earnings more than its expenses and costs, determining its financial success and viability.

Latent Need

A customer's unrecognised or subconscious need that has not yet been identified or addressed by companies.

Critical Needs

Fundamental requirements identified by customers that must be addressed by a product or service for it to be considered viable and satisfactory.