Great Depression Section #2 Flashcards
1
Q
USA Era of Prosperity 1922-1929 (3)
A
- spectacular growth in industrial production and exports
-based on new economic practices and sectors
- USA accounted for more than 80% of world production
2
Q
Industries that took off (6)
A
- Automobile,
- Electrical (electricity, telephone, cinema)
- Household Appliances (refrigerators, radios)
- Chemical (oil refining, tires, fertilizers, medicines)
- Aeronautics
- Energy (electricity and oil)
3
Q
Taylorism
A
new method of work organization
4
Q
Fordism
A
standardized and chain production
5
Q
Business Concentration
A
- Large business groups and large investments
- Development of advertising (press, radio, posters)
6
Q
France and Germany
A
only European powers to experience significant growth in industrial production
7
Q
UK during the 1920s (4)
A
- stagnate economy
- returned to the gold standard
- products became more expensive
- exports fell
8
Q
Agricultural production
A
increased due to modernization and mechanization, but prices fell in the 1920s
9
Q
Old Industries
A
coal, textiles, iron, steel and shipbuilding declined as newer ones got the investment
10
Q
Unequal Industrial Profits (2)
A
corporate profits grew by 65%, while wages increased by only 17%
farmers grew in debt and lost their jobs
11
Q
bad stuffff (4)
A
- Less world trade
- More protectionism
- Failure of gold standard
- Decline in capital investment
