Independent work 1: Opinion essay

Independent work 1: Opinion essay

Do you think people spend more money today than they did before? Why/why not? Support your opinion with relevant examples.

I do hold personal opinions, but I can provide some information which may help you form your own thoughts on the subject.

According to various economic studies, people are spending more money today than they did in the past. One reason for this is the increase in the standard of living, which has led to a rise in consumer demands. In the past, people's needs were basic, mainly comprising of food, clothing, and shelter, but with time, the level and variety of requirement have increased. people today are also more inclined towards luxury items, such as branded clothes, jewelry, and high-end gadgets.
Another factor responsible for the increase in spending can be the development of the e-commerce industry. Online shopping has made it more convenient for people to buy anything from anywhere, increasing their access to previously unavailable goods. With online retailers such as Amazon and Alibaba, people can now buy products at relatively lower prices, making it affordable for people to purchase items that were beyond their financial reach in the past.
To conclude, with the rise in the standard of living, ease of access to luxury items, the development of the e-commerce industry, and new technology, people are now spending more money than they did in the past. However, factors such as inflation and economic instability may also sometimes restrict the level of expenditure.