Economic Boom 1920's Flashcards
What was the economic boom in the 1920s?
A period of rapid economic growth/expansion
What does SHELDAC stand for?
S-Stock market H-hire purchase E-Exports L-Lassiez faire D-Disposable income A-Assembly line C-Condsumer goods
How many cars were bought on hire purchase?
6/10
what is an example of a US export?
Coal from Kentucky- around 42%
What is an example of Disposable income?
Henry Ford’s workers were payed 5 US dollars a day.
How many cars were being produced every minute because of assembly lines?
1 car every minute
what was the biggest car production factory called?
Rouge Plant in Michigan
How did the car industry help other industries?
Th cars used 80% rubber,20% steel, 75% plate glass and 65%leather -of US resources
How much was a Model T?
1909-£1200
1929-£295(very affordable)
How did shifts change because of Henry Ford?
because there were 3 different shifts(morning, afternoon and night) the daily hours reduced by 1hour going from 9hours to 8hours
What were some features of the Model T?
> it went 40/45 mph
>15.5Million were made by 1929
What were some of the failing industries?
Nylon- cotton industry
Coal mining
farming- over produced for war
2Mil unemployed
how many union workers were there?
1920-5.1Million
1929-3.6Million
(As work places would fire employees and be violent if caught at a strike)
What are some examples of low wages?
> In textile industry women were payed 18cents an hour and worked for 56hours
There was no minimum wage, sick, unemployed, state pension or healthcare pay because of Republican policies
Coal miners were payed 1/3 or 33% of the national average wages
What were conditions like in poor rural areas?
> Farming and coal mining only earned 1/3 of what other workers were earning
10% had electricity/electrical lights and water supplies
6 million left the countryside and moved to the city(rural-urban migration) in the 1920s