USA - reasons for economic boom in the 1920s

Question 1

benefits of ww1 on industry

Answer 1

Demand for American goods in Europe who were too busy with war to grow enough food, extract enough fuel or produce enough iron and steel
Industries benefited from this overseas demand:
Factory production grew by 35 %, one of the largest areas of growth being steel industry – Production of steel in 1910: 26.1 million tonnes  1920: 42.1 million

Question 2

benefits of ww1 on agriculture

Answer 2

Production on US farms grew rapidly since European farmers had to fight in the war; global demand for agricultural goods like wheat, and cotton for clothing rose
After the war, USA’s supply of goods to the world: 30% wheat, 55% of cotton
Farmers’ livelihood was affected positively;
prices for their goods rose by 25%
average income of a farm-owning farmer ↑ 30%.
farmers employed mechanized and improved farming practices which caused the increase in tractor sales
farmers took out loans to expand and leverage increased production in order to sell abroad