USA1919-41 Flashcards
(136 cards)
What is a boom in economic terms?
An economic state of growth with rising profits and full employment.
What was the number of automobiles in the USA in 1919 and 1929?
1919 = 9 million, 1929 = 26 million.
Describe the cycle of prosperity.
More sales = more production = more wages = more spending.
What consumer goods became popular during the economic boom?
- Fridges
- Radios
- Telephones
What entertainment options were prominent in the USA during this period?
- Hollywood
- Cinemas
- Jazz clubs
- Speakeasies
What role did the stock market play in the economic boom?
The stock market (Wall Street) was a key component of the economic growth.
What is laissez-faire?
A policy meaning ‘leave alone’ where the government makes few restrictive laws.
What was the purpose of tariffs during the economic boom?
To encourage consumers to buy American goods by taxing foreign products.
How did low taxation contribute to the economic boom?
It allowed people to keep more money to spend on American goods.
What are trusts in the context of this economic period?
Super-corporations that dominated certain industries, like Carnegie (steel) and Rockefeller (oil).
Who was Henry Ford and what was his contribution to the automobile industry?
He aimed to produce affordable cars and pioneered the assembly line.
How did the assembly line affect car production time?
Reduced production time from 13 hours to 1 hour and 33 minutes.
What was the price of the Ford Model T in 1908 and 1925?
1908 = $850, 1925 = $290.
How did Ford address worker boredom in his factories?
He doubled workers’ wages to $5 a day.
What industries were impacted by the automobile boom?
- Glass
- Rubber
- Steel
- Road building
- Petrol
- Advertising
- Garages
- Motels
What was the significance of advertising in the 1920s?
There was a massive increase in advertising, especially on radio and cinema.
What was the credit system that developed during the economic boom?
Consumers bought goods on credit, paying bit by bit, also known as instalment plan buying.
What economic condition contributed to many Americans being in debt during the 1920s?
A booming economy with jobs allowing for repayments
Despite the debt, the booming economy made repayments manageable for many Americans.
What evidence indicates growth in American consumer goods from 1915 to 1929?
Increase in ownership of cars, telephones, and radios
The data shows a significant rise in consumer goods during this period.
What industrial innovations helped increase production in the 1920s?
Assembly line techniques and electricity in factories
These advancements allowed for more efficient manufacturing processes.
What was significant about the building boom in the 1920s?
Roads doubled, and there was a demand for factories, offices, and public buildings
The 1920s saw a surge in construction to accommodate growing urban areas.
What was the main form of entertainment in America by the end of the 1920s?
Cinema
Many Americans attended the cinema several times a week.
What was a characteristic of movies made before 1927?
They were silent films with piano accompaniment
This changed with the introduction of sound in films.
Name three popular genres of films in the 1920s.
- Comedies
- Romance
- Westerns
These genres attracted large audiences during the decade.