USA: economic boom Flashcards
where did oil come from?
California, Oklahoma and Texas
where did coal come from?
Kentucky, Pennsylvania, West Virginia
where did iron come from?
Minnesota
where did timber come from?
forests of Washington state and Oregon
who did the US lend money too? how did it benefit them?
Britain, France and Russia
paid back with interest but also the money borrowed was used to buy weapons and supplies from american companies
what did the food shortages in Europe mean?
American farmers could sell their crops to Europe for high prices
how did America gain control of the international trade markets?
while their rivals were fighting in war, they sold more and took over
what is hire purchase?
if someone did not have the money to buy the goods they wanted all in one go hire purchase allowed them to buy the goods they wanted with a small deposit and pay the rest weekly or monthly
what did electrification lead to?
radios, washing machines and hoovers
when was the hoover first introduced?
1926
when was the refrigerator introduced?
1927
how many homes had electricity in 1920?
33%
how many homes had electricity in 1929
70%
what new techniques were introduced in factories due to electrification?
the assembly line
what is the assembly line?
conveyor belt carried the partly assembled car past gangs of men spaced along the line each having specific tasks
