Features Of Economic Boom Flashcards
1
Q
How did confidence effect the economic boom
A
People’s confidence in the economy went up so they bought more things
2
Q
How did the government effect the economic boom
A
Laissez faire
Tariffs
Low taxes
3
Q
How did advertising effect the economic boom
A
New techniques learnt in the war encouraged people to spend more
4
Q
How dis hire purchase effect the economic boom
A
Encouraged people to spend money they didn’t have
5
Q
How did mass production effects the economic boom
A
Goods made in big factorise cost less to make therefore were cheaper to buy
6
Q
What happened to old industry’s during economic boom
A
- farmers demand for food went down
- coal and textile were replaced, the workers lost their jobs
7
Q
Facts about Ford
A
- created first production line
- one car produced every 10s in 1927
- in late 1920s car industry biggest employer in America
