what caused the boom in the '20s USA Flashcards
big question 1
how did the first world war cause the boom
- usa joined later so lost fewer resources
- lent allies money and sold them goods
-> one way trade - became leader in certain industries
what was one way trade
usa lent allies money and and sold them goods
how did america take over trade
- as britain, france and germany were too busy fighting, america took over trade
- they became leaders in certain industries
example of how usa became leaders in certain industries after the war
they took over germany’s chemical industry
INDUSTRIES AND METHODS - when was the first moving production line (assembly line) set up in and by who
1913 by henry ford
what did the assembly line do
- massivley increased production
- made other consumer goods cheaper like radios
INDUSTRIES AND METHODS - how many cars were made in 1900 compared to 1929
- 1900 there were 4000 cars made
- 1929 there were 4.8 million cars made
what year was there 4000 cars made
1900
what year was there 4.8 million cars made
1929
INDUSTRIES AND METHODS - what was the first mass produced car called
model T Ford
INDUSTRIES AND METHODS - how many cars were made in 1919 compared to 1929
- 1919 , 9 million cars
- 1929, 26 million cars
INDUSTRIES AND METHODS - what had total industrial production increased by in the 1920s
50%
INDUSTRIES AND METHODS - how much money a year was spent on advertising
$3 billion
INDUSTRIES AND METHODS - how did they encourage poorer people to buy items
- credit schemes
- 8/10 radios bought on credit
- buy now, pay later
- hire purchase
REPUBLICAN POLICIES - was tax high or low and why
tax was low in the 20s to help people spend more
