The Economy And Life In The Roaring Twenties Flashcards
(97 cards)
1
Q
Two key features of the economic benefits of WW1
A
- American industry grew
- Agriculture industry benefitted
2
Q
Why did American industry grow
A
- demand for supplies in war-torn Europe
- led to 1.3million more employed
- wages rose
- more disposable income
- multiplier effect in other industries
3
Q
How much did American factory production grow
A
35%
4
Q
How much of the world’s wheat did America supply following WW1
A
30% of the world’s wheat
5
Q
Why did USA supply 30% of the world’s wheat
A
Europe couldn’t produce any wheat anymore
(Due to war)
6
Q
How did farmers benefit from this growth in demand for wheat and crops
A
- their income grew by 30%
7
Q
What did many farmers do to maximize crop production
A
- many took out loans
8
Q
Why did many farmers take out loans during the war (and after)
A
- to expand production
- to make more crops
9
Q
2 features of Henry ford + mass production
A
- Henry ford created the assembly line
- Demand for cars grew
10
Q
Describe the assembly line
A
- where each worker focused on one specific, repetitive task
11
Q
What did the assembly line cause
A
- meant each car was the same shape + size
- reduced training + material costs
- very quick production (of model T for example) in workshops
12
Q
How quickly was a model t car produced by (October) 1921
A
1 model T every 10 seconds
13
Q
When did ford manage to produce 1 model T every 10 seconds
A
By October 1921
14
Q
What did this fast and abundant production of model t cars mean
A
- cheap prices for model t
- affordable, so many bought it
15
Q
How much did model t cost by 1925
A
$290 by 1925
16
Q
By what year did a model T car cost $290
A
1925
- creating great demand
17
Q
What did this high demand for cars mean
A
- meant that industries like steel; rubber and glass grew too
- by 1929: 26 million cars in USA
- 400,000 km of roads built
- lots of jobs
- 7% of workers were in motor industry
18
Q
By what year were there 26 million cars in the usa
A
1929
19
Q
In 1929 how many cars were there in the usa
A
26 million cars
20
Q
How many km of roads were built for the increasing cars
A
400,000km of roads
21
Q
What % of workers in usa worked in motor industry
A
7%
22
Q
2 features of hire purchase
A
- People bought more things
- Rise in profits
23
Q
What did hire purchase mean
A
- customers could get credit and pay in installments
24
Q
What was the result of hire purchase (credit)
A
- meant Americans could pay w/o saving up
- could afford more product
25
By 1929 what % of cars were bought with hire purchase
75%
26
How did hire purchase affect car purchases
Increased it drastically
27
By which year were 75% of cars bought with hire purchase
1929
28
Why was there a rise in the profits of businesses due to hire purchase
- more people bought things like cars
- so more sale
- so more profit
29
What did hire purchase lead to
- increased production of things like cars in factories
- boom in new industries
30
By 1929, what % of electrical products (like radios) were bought with hire purchase
- 50%
31
What did the increase in electrical products and cars being bought mean
- other industries benefitted too
- since things like steel were needed for cars and radios
32
By which year were 50% of electrical products and 75% of cars bought using hire purchase
1929
33
2 features of advertising + consumerism
- people were exposed to more products
- people spent more money
34
How many radios were sold in 1929
10 million
35
Where was advertising done
- on the radio
- cinemas
36
What did the introduction of ads in cinemas, radios mean
- people exposed to ads even in their leisure time
- encouraging consumerism
37
In what year were 10 million radios sold
1929
38
What did advertising and consumerism encourage
- competition between brands
- variety of brands to choose from
39
What did shopping become due to advertising and increased consumerism
- a leisure activity
40
How many fridges were sold in 1929
1 million
- helped by the availability of credit
41
What did advertising and consumerism lead to
- economy growing
- society came more materialistic
42
By 1929 how much was spent on advertising by companies
$2billion
43
How much was spent on radio equipment by people
$850 million
44
In which year were there 10 million radio sales; 1 million fridge sales; 26 million cars; $2 billion spent on advertising; 50% of electrical products and 75% of cars bought using hire purchase; and a Wall Street crash (despite warnings from babson that same year)
1929
45
How many Americans bought shares on stock market
1.5 million
46
How many shares were there on the market by 1929
Over 1 million
- so companies hired more people
- as they sold more shares + made more money
47
2 features of the Problems in farming
1. Over-production
2. Mechanization changed farms
48
Why was there over-production
- 1920, prohibition meant no alcohol
- so less wheat
- Europe’s economy was recovering
- so less demand + exports
- 2/3 of farmers operated at a loss
- because prices dropped due to supply > demand
49
When was prohibition put into law
1920
- no alcohol
- less wheat demand
50
When was the smoot-Hawley tariff act
1930
- put tariffs on European products
51
What did smoot-Harley tariff act 1930 do
- raised tariffs on over 20,000 European goods
52
What was the aim of smoot-hawley 1930
- to increase the prices of the imported goods
- so americans would pay American goods
- so farmers profits increased
53
What was the European response to smoot-hawley tariffs 1930
- they also put tariffs on American goods
54
What happened as a result of smoot-Hawley 1930 and European retaliatory tariffs
- global trade war
- world trade halved
- European tariffs = decreased demand for American goods = decreased profits for American farmers
55
How did mechanization change farms
- tractors > horses
56
How many times more tractors than horses in 1920 compared to 1915
10 times more
57
What did mechanization mean for farms and the agriculture industry generally
- fewer people needed to work on farms
- number of farmhands dropped by 1million in the 1920s
58
By how much did the number of farmhands drop in the 1920s
By 1million
59
2 features of cinema
1. Was entertainment
2. New technology created
60
How many cinema tickets were sold each week in 1924
40 million cinema tickets
- people would go after work as leisure activity
- Hollywood generated large profits
61
What did the rise in cinema mean
- Hollywood had large profits
- stars like Charlie Chaplin became popular
62
When were films shown in color
1922
- increased their appeal
63
What did color film mean for entertainment
- increased appeal
64
How much was made per year from ticket sales
$2 billion per year
65
When were films released in sound
1927
- eg the jazz singer
66
Why was cinema so popular
- Americans had no tv
- so films were a popular form of entertainment
67
Many would go to the cinema multiple times a week
//
68
2 features of jazz and dancing
1. Became popular with youth
2. Controversial
69
Why did jazz + dancing become popular with the youth
- ‘cotton club stars’ like Louis armstrong
- dances like ‘Charleston’ were performed
70
What was the cotton club
- Harlem nightclub
- performers like Louis Armstrong
71
Name of a cotton club star who became popular with the youth
- Louis Armstrong (black)
72
What was the ‘Charleston’ dance
- a very intimate dance
- accompanied by jazz
- loved by couples
73
What were speakeasies
- illegal pubs
- lots of alcohol (illegal due to prohibition)
74
Why was jazz music controversial
- associated with black culture
- most jazz musicians were black (like Armstrong)
75
Why was Charleston controversial
- associated with black culture too
- Christian’s didn’t like the intimacy (esp. between young, unmarried couples)
- this highlighted the conflict between modern and traditional views
76
2 features of the car + motor industry
1. Car ownership increased
2. Longer distances covered more quickly
77
Why did car ownership increase
- cheap prices
78
Why were car prices cheap
- mass production
- credit (hire purchase)
79
How did cars improve quality of life + increase leisure
- easier to go on holidays
(You could reach nearest city quickly)
- more car models (made by ford and its competitors)
- ‘motoring’ became a hobby
- shopping centers became more popular
(Easier to get there)
80
How many visitors to national parks in 1930
2.7million visitors
81
2 features of the changing position of women
1. Had more freedom
2. Some became flappers
82
How many women joined the workforce
2 million
- earned less than men though
83
When did women get the vote
1920
- 19th amendment
- following suffragette movement
84
By what % did divorce rate rise
By 7%
85
What did the increased freedom of women lead to
- more employed women
- 2million joined workforce
- more divorces
- 7% rise in divorce rate
- less marriages
- birth rate fell
86
2 features of flappers
1. Distinct fashion + appearance
2. Lifestyle + behavior
87
What clothes did flappers wear
- short skirts
- loose-fitting dresses
88
How did flappers cut their hair
- short, bob styles
89
What was flappers’ make-up like
- bold make-up
- dark lipstick
- heavy eye make-up
90
What was the lifestyle of flappers
- drank alcohol + smoked
- despite the former being illegal
- worked jobs
- drove cars
91
What was the behavior of flappers
- danced to jazz music
- loved the charleston
- rejected traditional roles
- sought independence
92
General idea of flappers
- challenged social norms
- sought independence
- embraced their modern freedoms
93
2 key features of sport
1. Mass popularity of spectator sports
2. Rise of sporting heroes/icons
94
How many people watched MLB matches in 1927
10.3 million people
95
How many people watched the Dempsey v Tunney boxing match in 1927
104,000 spectators
96
What helped the rise of sports
- rise of radio broadcasting
- as people could listen at home, expanding audience
97
What other group played a big role in building the public image of sports stars
- media
- built images with newspapers + magazines highlighting personal stories
