motor industry boom 1920's
- Created by: edie cooke
- Created on: 08-05-13 14:11
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- Motor Car Industry boom 1920's
- SUPPLY
- Henry Ford a key individual, his development and knowledge contributed towards the boom.
- Used method of mass production in Detroit from 1910.
- Time to make car reduced from 14hrs to 1 1/2 hrs, same car produced through systematic production.
- Cost less to make, supply and demand were at increasing equilibrium.
- Time to make car reduced from 14hrs to 1 1/2 hrs, same car produced through systematic production.
- Used method of mass production in Detroit from 1910.
- Influenced by Freddy T.
- Wrote a book, people used his business methods and became more efficient.
- Henry Ford a key individual, his development and knowledge contributed towards the boom.
- Demand.
- Advertising critical for demand.
- $3 billion a year in 1929 on advertising.
- Cinema and radio.
- Government, reduced taxes.
- Benefited the rich so could buy luxuries such as cars.
- Easy credit meant people could afford to buy things.
- Advertising critical for demand.
- SUPPLY
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