American Economy BOOM (1920) Flashcards
What factors made the economy boom in the 1920’s?
- The USA’s Raw materials
- Impact of the First World War
- Tariffs that protected US businesses
- New technology
What new products were invented in the 1920’s?
Automobiles (motorcars)
Fridges
Vacuum cleaners
Washing machines
By 1929 how many people had electrical goods in their homes?
160 million
What did Wilson say about the new cars?
They spread a socialist feeling and they’re a picture of arrogance of wealth
Who said the following quote:
“This car will be so low in price that no man making a good salary will be unable to afford it”
Henry Ford
Why did Henry Ford say there is no excuse not to have a car?
Because he made them so cheap
How did Henry Ford let many people live the American dream?
He made cars easily accessible meaning that people could get good quality cheaply.
When did Ford start to make the Model T Ford?
1908
By 1924 How much was a T Ford?
Under $300
How did the USA become more connected because of cars?
They built paved roads, tunnels, bridges and motorways
What businesses had a BOOM because of cars?
Rubber manufacturing Steel production Oil refinery Diners and Drive through restaurants Campgrounds Tourist Cabins
What did Ford say the car strengthened?
Family values
What system did Ford use to created the Model T Car?
The moving assembly line
How did poor people afford luxury electrical goods?
They bought on credit and paid off the loan
Who benefited most from the boom in 1923 - 1929?
Businessmen and those who could afford to buy shares.
