1.5 finance system


The History of Credit in America

In this lesson, you have seen and heard information on the history of credit in America. You will explore the history of the credit industry in America and evaluate how American credit industry history affects today’s consumer credit industry.

  • What effects did the Great Depression have on the credit industry?
  • What effects did the Post War Era have on consumer borrowing?

For this assignment:

  1. Review information from this lesson, as well as Internet resources, in order to answer the two questions above.
  2. Citing evidence from your source material, thoroughly answer each question in a paragraph with a minimum of five sentences.
  3. According to CBS Money Watch, more than half of teens say it is important to understand debt: Do you understand debt and how it can impact your life? Quickly write a list of what you know about debt and its impact.
  4. From your list, select one item you believe is the key to understanding debt.
  5. Clearly state your key item in a sentence. Then, in a minimum of three sentences, explain why you believe that item is most essential to understanding debt.