KQ1 - US Economy Boom Flashcards
What did Henry Ford pioneer?
The assembly line
Name a factor that pushes a person away from a country
Crops failing, religious persecution
Name a factor that pulls a person into a country
Space, economic opportunity
Name all 9 factors that contributed to the economic boom
Natural wealth, confidence, position after WW1, republican policies, hire purchase, assembly line, new industries, advertisements and the automobile industry
What does LACK PANTS stand for?
Lassiez-faire Assembly line Credit Knowledge Position after WW1 Advertisements New consumer goods Tariffs Share confidence
How many cars could be made a minute by 1929?
6
How many car were bought on hire purchase?
6 out of 10
What percentage of glass production was used for the automobile industry?
75%
What percentage of people lived below the poverty line in 1928?
42%
Why didn’t farmers benefit from the boom?
Overproduction, lack of demand from Europe and competition from Canada
Why did prohibition affect farmers?
They couldn’t sell their grain to distilleries
What does ‘laissez-faire’ mean?
Let it be
