America in the 1920s Flashcards
(167 cards)
what what is isolationism
the policy of remaining separate from other countries affairs.
why did the first world war allow America to prosper inancially
The USA loaned money to Britain and its allies to buy equipment, which brought lots of new jobs and made business people very rich. They also ended up with no huge wartime debts.
What is another reason America prospered during/after the first world war
It had a very small impact on america, almost no important areas were destroyed, and America suffered much fewer losses.
what percentage of American homes had electricity in 1916 compared to 1927
15% in 1916 vs 70% in 1927
what was one of the things the economic boom allowed people to do
Buy new and modern “gadgets” such as fridges, vacuums, gramophones etc. This also brought new jobs as these goods were in much higher demand.
How many cars were there in America in 1919 vs 1929
9million 1919 vs 26million 1929
How many telephones were there in America in 1919 vs 1929
10million 1919 vs 20million 1929
How many radios were there in America in 1919 vs 1929
60,000 1919 vs 10million 1929
How many refrigerators were there in America in 1921 vs 1929
for every refrigerator in 1921, there were 167 by 1929
what was one of the reasons for the boom
the Fordney-McCumber tariff which put high taxes on goods entering the country, making american goods more attractive.
how did the government encourage rich people to help boost the economy
they cut taxes paid by rich people to encourage them to make more companies/businesses to make more jobs. The low taxes also allowed people to spend more money of the new “gadgets”
what was the “laissez faire” approach
the policy of leaving businesses alone to create wealth.
What was the significance of the motor industry in the economic boom
Car making used 20% of america’s steel, 65% of its leather, and more than 75% of its rubber and glass. The industry brought lots of new job opportunities and allowed people to travel more.
what were two things manufacturers used in car production
assembly lines and mass production
what is an assembly line
where something is built bit by bit by lots of different people, each specialising in one part of the product.
what is mass production
when something is made in large amounts very quickly and efficiently, allowing companies to sell more products for cheaper.
How did advertising help with the boom
Adverts were put up on billboards, newspapers, magazines, cinemas and radios to encourage people to buy new “gadgets.”
what is a hire purchase plan
“buy now pay later” where people would buy goods in small installments over a fixed period. 6 out of ten cars were bought this way.
what is the cycle of prosperity
mass production makes goods cheaper -> more people buy goods -> hire purchase helps people buy goods -> advertising persuades people to buy even more goods -> more people are employed to make these goods -> people spend their wages of more goods -> the cycle starts again.
How much did the model T Ford cost in 1911 vs 1928
$800 1911 vs $295 1928
how many people bought “Tin Lizzies” between 1911 and 1928
15million
why did the price of the Ford drop so much
because of assembly lines
how many cars were on the roads in america by 1926
nearly 20million and one in two was a Ford
How did the car industry create jobs
not only did more people have to work in the factories that made the cars, but it also created jobs in the industries that supplied the materials for the cars, in industries making roads, petrol companies and in gas stations. by 1925 over 500,000 people worked in the car industry.