ELI5: Explain Like I'm 5

Consumer capitalism

Consumer capitalism is an economic system based on the buying and selling of goods and services. In this system, people, businesses, and governments buy things that other people, businesses, and governments have made. This cycle of buying and selling creates money, jobs, and economic growth. Consumer capitalism drives economic growth by encouraging people to buy things and by encouraging businesses to make more and better products. This system also creates competition, which keeps prices low and encourages innovation. In consumer capitalism, businesses become powerful because they make and sell products that people want and need.