Causes of the economic boom Flashcards
How did the first world war bennefit America?
- American industries bennefited from selling goods to countries at war
- American wage went up by 25%
- Britain owed America 9 billion
How did republican policies benefit the American Economy?
- Non-american goods had to pay a tariff so put more money into the american economy (Fordney mccumber).
- No benefits so people working harder.
How did consumer society benefit the American economy?
- New Electronic appliances.
By 1929 how much of the worlds goods did america make?
50%
What was the assembly line?
Workers on a conveyer belt doing simple and specific tasks.
How did Advertisement Help lead to the economic boom?
- Companies used WW1 propaghanda tactics to advertise new technology.
- People had high disposable incomes so spend on new products.
How did Natural resources in America help lead to the boom?
- America could use its vast ammount of land and resources to help in the war effort.
How did Hire purchase help with the economic boom?
The products were more accesible to people who had less money therefore the money was circulating in the economy.
How did rising wages help with the economic boom?
People were earning more so had more disposable income to spend on businesses.
How did the stock market help with the economic boom?
People could invest in companies in order to make money and also bennefit the business so they could pay higher wages.
How much did people wages increase by in the 1920’s?
25%
