motor industry boom 1920's

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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.
      • Influenced by Freddy T.
        • Wrote a book, people used his business methods and became more efficient.
    • 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.

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