(Economic prosperity) Features

Question 1

Tech advances/the automobile - one of the features of changes in industry & business techniques was the automobile.
Give evidence of this.

Answer 1

Car ownership = 7.5 million in 1920 - 27 million in 1929.

Question 2

What were features of technological advances?

5

Answer 2

Mass Production
The Assembly Line
Management science
Advertising
The automobile.

Question 3

Tech advances - what had an impact on leisure?

Answer 3

Technological advances & time saving devices.

Question 4

Economic boom - how was the availability of products more accessible?

Answer 4

Hire Purchase.

Question 5

Economic boom - give evidence of the availability of products being made more accessible through hire purchase.

Answer 5

1912 - 1929, no of electrical goods sold per year went from 1.4 million - 160 million.

Question 6

Economic boom - what did unemployment look like?

Give evidence

Answer 6

Low

Never above 3.7%

Question 7

Tech advances/mass production - what did the production of industrial goods like like?
Give evidence

Answer 7

Booming

Rose by 50% 1922 - 1929

Question 8

Tech advances/the automobile - how did the Model T automobile help the economic boom? (4)

Answer 8

Assembly line streamlined mass production.

1926, Ford producing cars every 10 seconds.

1929, car industry employed 7% of all industrial workers.

Car ownership = freedom for families.

Question 9

Economic boom - how much did the real wages of industrial workers rise by 1914 - 29?

Answer 9

14%

Question 10

Economic boom - how much did production of industrial goods rise by between 1922 - 29?

Answer 10

50%

Question 11

Economic boom - compared to Europe, how many times higher was industrial workers wages?

Answer 11

2 or 3 times higher.

Question 12

Economic boom - production of ________ rose by _____ between ____ and _____.

Answer 12

a) Industrial goods.
b) 50%
c) 1922
d) 1929

Question 13

Economic boom - what was the highest level of unemployment between 1922 - 29?

Answer 13

3.7%

Question 14

Economic boom - 14% was the amount of ______ that the _______ of Industrial workers rose by between ____ and ____.

Answer 14

a) Real wages
b) Salaries
c) 1914
d) 1929

Question 15

Economic boom - compare Gross National Product (GNP) in 1920 and 1929.

Answer 15

1920: $73 billion
1929: $104 billion

Question 16

Economic boom - 3.7% was the highest level of _______ between ____ and ____.

Answer 16

a) Unemployment
b) 1922
c) 1929

Question 17

Economic boom - _______ wages were ____ or _____ times higher compared to those in _______.

Answer 17

a) Industrial workers
b) Two
c) Three
d) Europe

Question 18

Economic boom - what year was America’s GNP at $73 million?

What year was it at $104 million?

Answer 18

1920

1929

Question 19

What were the GENERAL reasons for 1920s prosperity? (3)

Answer 19

• Technological advancements
• Economic boom
• New business methods

Question 20

Name two reasons for consumer boom.

Answer 20

1. Hire purchase

2. Mass production lowered prices

Question 21

New business methods - how were businesses changed by the growth of management science?

Answer 21

Became more complex so those with one manager were old fashioned.
Therefore, more specific management was created eg marketing etc.

Question 22

New business methods - what was management science?

Answer 22

Planning how to use people effectively.

Question 23

New business methods - how did advertising change in the 20s?
Give a specific statistic.

Answer 23

Some companies employed psychologists to target specific audiences.
Money spent on advertising increased by 5x from 1914.

Question 24

Economic boom - how did the number of electrical goods sold per year change?

Answer 24

1912, 1.4 million - 1929, 160 million

Question 25

What were the 8 SPECIFIC reasons for prosperity?

Answer 25

USA richest after WW1
Automobile
Hire purchase
Republican govt
Tech advances
Advertising
Advantageous foreign market
Consumer boom

Question 26

How did the population of America change?

What does this suggest?

Answer 26

106.5 million to 123 million

People felt stability within their lives

Question 27

Tech advances & economic boom - in _____ radio sales were at _____. In _____ radio sales were at _____.

Answer 27

a) 1922
b) $60,000,000
c) 1929
d) $842,000,000

Question 28

Tech advances & economic boom - what industry faired very well during prosperity?

Answer 28

Radio

Question 29

Tech advances & economic boom - there was ______ cars in service in _____ and in _____ there was no less than ______.

Answer 29

a) 6.7 million
b) 1919
c) 1929
d) 23 million