It makes me wonder how companies managed to stay in business when there was lack of purchasing power and goods usually cost way more than today compared to the average salaries.
So people wouldn’t buy a lot of new products and generally products lasted longer.
How did companies make money during this period before mass consumption became normal and products started to be sold by the millions?
In: Economics
You said it yourself: Products cost way more.
So you spend a long time making something by hand, but also got paid a lot for it. People didn’t buy as much stuff or as often, because it was more expensive.
A company in that context would be a land owner. They could still trade stuff in bulk,
Latest Answers