America: Henry Foord And The Motor Industry Flashcards
When was the first Ford factory built and where?
1903 Michigan
When was the assembly line indroduced?
By 1913
What did ford’s assembly line mean about cars produced?
They were produced quicker and cheaper
What did the ford assembly line use?
An electric conveyer belt that transported the partly assembled car past workers who did 1 or 2 small jobs repeatedly
What happened to the price of cars as production got quicker?
Price of cars fell (became cheaper)
How much did a car cost in 191(before assembly lines)
Nearly $800
How much did cars cost in 1928 (using an assembly line)
$295
How many people brought model Ts between 1911 and 1928?
15 million
What did it mean for jobs in the motor industry?
They increased - jobs like building roads, highways and oil refineries, petroleum stations etc. were created
What were the positive social changes of the boom in motor industries?
Car owners felt a new sense of freedom
People no longer had to live near offices/factories - they could buy a house out of town
What were the negative social changes of the boom in the motor industry?
Traffic jams
Pollution
Accidents
What was often known as ‘playing the stock market’?
Buying and selling of shares in companies
How does the stock market work?
To set up a company, you need money for wages, equipment and land etc.
Most companies got money from investors, in return they own a share of the company
A share holder makes money by receiving a share of the company profits or selling their share for a higher price they paid for it
In 1920, how many people owned a share?
4 million
By 1929, how many people owned a share?
5 times as many (20 million)
