Factors behind the boom: Industrial strength Flashcards
How many people lived in the USA in 1923?
123 million (today: approx. 330 million)
Where did most of the population live?
In towns in cities (i.e. not farms)
What natural benefits did America have?
It was rich in natural (raw) resources (e.g. oil, coal, iron)
Where did those Americans who lived in cities tend to work?
- Industry (turning raw goods into a product)
2. Commerce (buying and selling of goods)
Why did many Americans choose to work in industry or commerce?
These jobs generally paid higher wages than farming
Why did it matter that people in towns and cities had more money?
It meant they could buy goods from other parts of America.
This meant most US companies had no need to export outside the USA.
Did US companies have to import many raw materials?
Some did, but MOST had the access to the raw materials they needed from inside the USA
By 1914, what did the USA lead the world in?
Most industries
What did the USA lead the world in producing?
Oil
The USA had huge ____ , ______ and ______ industries
Steel, coal, textiles
Which 4 NEW technologies did the USA lead the world in?
- Motor cars
- Electrical lighting
- Telephones
- Film industry
By 1914, where were many managers beginning to sell their goods to?
Europe, Latin America, and the Far East
Why was American agriculture envied?
It was the MOST efficient AND productive in the world
