From boom to bust Flashcards
Unit four
What is consumerism?
the protection or promotion of the interests of consumers.
What is urbanization?
the process by which large numbers of people become permanently concentrated in relatively small areas, forming cities
What was prohibition
a nationwide ban on the sale and import of alcoholic beverages that lasted from 1920 to 1933
What are stocks?
a security that represents the ownership of a fraction of the issuing corporation.
What are flappers?
a fashionable young woman intent on enjoying herself and flouting conventional standards of behavior.
What is a advertisement
a notice or announcement in a public medium promoting a product, service, or event or publicizing a job vacancy.
What are installment plans?
a system in which the buyer can take and use goods by paying a percentage of the price as deposit, and pay the remainder due by a series of regular installments.
what were some advertisement techniques?
Convinced people to buy stuff by telling them it will change their lives or creating a vibe/feeling people would associate with that product. (Saw ads everywhere)
What caused the stock market to crash?
overinflated shares, growing bank loans, agricultural overproduction, panic selling, stocks purchased on margin, higher interest rates, and a negative media industry.
Define the Great Depression?
the longest and deepest downturn in the history of the United States and the modern industrial economy
What was the government response to the Great Depression
Congress approved President Franklin Roosevelt’s New Deal, which provided $41.7 billion in funding for domestic programs like work relief for unemployed workers
The new deal
gave relief to unemployed workers
Alphabet soup agencies
several new federal agencies
