Industrial Strength Flashcards
Definition of the economic boom
A period in the 1920’s when America saw an increase in production sales and wages. A period of prosperity
Who was Henry Ford
Henry Ford was a businessman who created Ford cars. He introduced the idea of mass production and standardisation in society
In …….. there were 81,000 working in one factory
1929
In 1928 the tin lizzy costed
$295
In 1909 a tin lizzy costed
$950
How many model t’s did he make
15 and a half million
What did the working hours changed from …. to ….
9 hours to 8 hours. This meant that they could have three shifts and would constantly be working all day
How much was Henry fords workers paid
$5 (a lot for 1920)
Percentage of labour force unemployed in 1920
4%
Number of labour force unemployed in 1921
11.9%
Number of labour force unemployed in 1922
7.6%
Number of labour force unemployed in 1923
3.2%
Number of labour force unemployed in 1924
5.5%
Number of labour force unemployed in 1925
4%
Number of labour force unemployed in 1926
1.9%
Number of labour force unemployed in 1927
4.1%
Number of labour force unemployed in 1928
4.4%
Number of labour force unemployed in 1929
5.2%
Annual average of exports in dollars between 1916-20
675 million on average
Annual average of exports in dollars between 1921-25
450 million on average
Steel production 1920
Just over 40million tons
Steel production 1925
Around 4.5 million tons
Steel production in 1929
55 million
Main natural resources for oil
Texas, Indiana,cleaveland