economic boom - COMPLETE

Question 1

what were the reasons for the economic boom of the 1920s?

Answer 1

pro business government policies 
natural resources 
effect of WW1
credit 
confidence 
advertising 
methods of production 
new technology

Question 2

🚨 NEW REASON 🚨

Answer 2

republican governments

Question 3

how many GOP presidents were there in the 1920s and who were they?

Answer 3

three; warren harding, calvin coolidge and herbert hoover

Question 4

what policies did they follow?

Answer 4

laissez-faire, pro-business policies

Question 5

what did these policies include?

Answer 5

imposing tariffs on foreign goods and cutting taxes and regulations on businesses

Question 6

🚨 NEW REASON 🚨

Answer 6

natural resources

Question 7

which natural resources did america have in abundance?

Answer 7

oil, coal, land and timber

Question 8

where and when was oil discovered?

Answer 8

houston texas in 1901

Question 9

what were these materials used for?

Answer 9

producing goods that would be purchased by a growing population

Question 10

🚨 NEW REASON 🚨

Answer 10

effects of WW1

Question 11

what did the war mean for america?

Answer 11

most of europe was in ruin, leaving the USA as the largest economy

Question 12

how did the war effect relations between europe and the usa?

Answer 12

europe now depended on the usa for much of its imports

Question 13

how did the war make production more efficient?

Answer 13

the need for quick wartime production improved efficiency

Question 14

🚨 NEW REASON 🚨

Answer 14

credit

Question 15

what was credit originally known as?

Answer 15

hire purchase

Question 16

what was credit?

Answer 16

a new way of paying that involved paying a small deposit and then the balance in instalments

Question 17

what did credit allow workers to do?

Answer 17

afford the latest goods

Question 18

🚨 NEW REASON 🚨

Answer 18

confidence

Question 19

what were americans confident in?

Answer 19

that they would remain in employment

Question 20

what did this mean?

Answer 20

that they were not afraid to go into debt to buy consumer goods

Question 21

🚨 NEW REASON 🚨

Answer 21

advertising

Question 22

what did the new advertising industry persuade americans of?

Answer 22

that the continued purchase of new goods was a necessity

Question 23

as demand grew what happened to production?

Answer 23

it also grew

Question 24

🚨 NEW REASON 🚨

Answer 24

methods of production

Question 25

what method of production was introduced in the 20s?

Answer 25

assembly line production

Question 26

what did this method enable?

Answer 26

huge amounts of goods to be produced

Question 27

what did this become known as?

Answer 27

mass production

Question 28

when was this method invented?

Answer 28

1913

Question 29

what is it most commonly associated with?

Answer 29

henry ford’s automobile company

Question 30

what did this method help create?

Answer 30

the middle class

Question 31

what does LACK PANTS mean?

Answer 31

Laissez faire policies
Assembly line
Credit
Knowledge

Position of USA (globally) 
Advertising 
New consumer goods 
Tariffs 
Shared confidence