Flashcards in Hostory 18/05 Deck (11)
What was the effect for America joining late in WW1?
American joined in 1917. This lead to fewer resources being lost
How did they become leaders in certain industries?
Increased trade due to European countries fighting
What boosted the Motorcar industry that leads to helping with the economic boom?
The invention of the production line in 1913 which with the economic boom, ment that Henry Ford could afford to pay his men $5 an hour.
How many Ford Model Ts were their in 1919 and by 1929?
9million in 1919 : 1929 there were 26million
What financing schemes helpwd with the economic boom?
Credit Schemes. For example, 8/10 cars were bought on credit and 6/10 radios.
What is Hire Purchase?
Hire purchase is ordering by mail. For example, with Sears, you coupd pay on a weekly basis.
what is the Laissez Fair?
Laissez Fair meant that the Government avoided business affairs which allowed industry to grow w/out interfeerence.
How much (estimated) money was spent on Advertising?
What did most Americans belive that could have lead to the depression?
Most people had the attitude of spending and not saving.
What needed resources did America have an abundance of at the time?
Coal, Oil and iron