'The Boom' - General Flashcards
What does ‘the boom’ refer to?
The period of dynamic economic growth in America after WWI
What happened to most businesses during the 1920s?
The grew more quickly than ever before
Why did the price of consumer goods decrease?
Businesses were finding ways to produce goods more cheaply and quickly.
As a result, they could reduce the price of their goods.
Give 3 examples of goods which were sold during the 1920s?
- Millions of fridges
- Millions of cars
- Hundreds of millions of nylon stockings
Where did many Americans buy houses?
In the suburbs of cities
With more money to spare, what did Americans spend money on?
Leisure activities e.g. cinema, radio, music, sport
As a result of the increased spending on leisure activities, what happened to these industries?
They boomed
What happened to business profits during this period?
They increased significantly
What happened to general confidence of businessmen and ordinary people?
It increased significantly
Why did it matter that the confidence of businessmen and ordinary people increased?
It meant they were more willing to take risks
What did many people do with their spare money?
Invested it in the stock market
What happened to the price of stocks and shares during this time?
They went up and up
What did the government build lots of during the 1920s?
Roads - more than ever before
What were more homes supplied with than ever before?
Gas and electricity
What seemed to symbolise the nation’s confidence?
The building of huge skyscrapers in cities
