Key Question 4: Economic Boom

Question 1

What did America have a plentiful supply of?

Answer 1

Natural resources such as timber, iron, coal, oil and land.

Question 2

When did America enter WW1?

Answer 2

1917

Question 3

How did America profit off WW1?

Answer 3

Selling resources to involved nations.

Question 4

In the 1930’s how could one now differently purchase items?

Answer 4

Through credit or hire-purchase; Buying something through progressive re-payments.

Question 5

How did companies encourage the purchase of items?

Answer 5

Advertising; by roads, radio, paper or cinema.

Question 6

What method in purchasing food changed in the 1920’s?

Answer 6

Supermarket chains like J P Penney. Shopping also became fashionable.

Question 7

What major development in knowledge came at this time?

Answer 7

The discovery and development of Electricity.

Question 8

What drove electricity to be developed?

Answer 8

The construction of factories to support mass-production.

Question 9

What electrical devices developed at this time?

Answer 9

Refrigerators, Washing Machines, Vacuum Cleaners and Radio sets.

Question 10

What industry utilised mass production at this time?

Answer 10

The car industry

Question 11

Who owned a major car manufacturing company?

Answer 11

Henry Ford

Question 12

What was Henry Ford’s marketing philosophy?

Answer 12

Producing lots of affordable vehicles. Sell more but each with a smaller profit.

Question 13

In 1925, What was the cost of a Ford car?

Answer 13

$290

Question 14

In 1908, What was the cost of a Ford car?

Answer 14

$850

Question 15

How many cars were owned by 1929?

Answer 15

23 million cars

Question 16

What did most car industry workers earn?

Answer 16

$5- a good wage

Question 17

How did the car industry boost the entire economy?

Answer 17

Construction of roads, petrol stations, hotels and restaurants.

Question 18

Which three Presidents held office in the 1920’s?

Answer 18

Warren Harding (1921-1923)
Calvin Coolidge (1923-1929)
Herbert Hoover (1929-1932)

Question 19

What commonality was between 1920’s Presidents?

Answer 19

All republican presidents holding a laissez-faire attitude- giving business’ freedom to expand.

Question 20

How did Warren Harding influence the boom?

Answer 20

Reduced Tax
1922, Fordney-McCumber Tariff
Protectionist policies

Question 21

How did Calvin Coolidge influence the boom?

Answer 21

Freedom of business to make profit

Laissez-faire attitude

Question 22

How did Herbert Hoover influence the boom?

Answer 22

Laissez-faire

Individualism- lack of reliance on government

Question 23

What was Herbert Hoover’s presidential promise?

Answer 23

“put a chicken in every cooking pot, and a car in every garage”

Question 24

What does the acronym LACK PANTS stand for?

Answer 24

Laissez-faire, Assembly Line, Credit, Knowledge, Position in WW1, Advertising, New consumer goods, Tariffs, Share Confidence.

Question 25

How were farmers affected during the 1920’s?

Answer 25

Overproduction led to falling prices. Many fell to debt and had to sell their farms and leave.

Question 26

By 1928, what amount of farmers lived in poverty?

Answer 26

Half of all famers in America

Question 27

In 1924 alone, how many farmers lost their farms?

Answer 27

600, 000

Question 28

What work did some black people work as in the 1920’s?

Answer 28

sharecroppers

Question 29

Why did black people suffer economically in the 1920’s?

Answer 29

Due to racial segregation, especially in Southern States.

Question 30

Who was a Sharecropper?

Answer 30

A cheap black labourer who lived in great poverty.

Question 31

How did immigrants fair financially in the 1920’s?

Answer 31

Poor education led to low wages and thus great prejudice.

Question 32

How did coal fair in the 1920’s?

Answer 32

Overproduction led to falling prices and rampant redundancy in the industry.

Question 33

How did ship building fair in the 1920’s?

Answer 33

Reduced demand led to thousands of redundancies.

Question 34

How did the cotton trade fair in the 1920’s?

Answer 34

New synthetic fibres like rayon are introduced. It became very popular and fewer workers were required in its manufacturing.