Economic prosperity of the 1920's

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  • Created by: Lubna
  • Created on: 26-01-13 15:10

Car industry

The workforce; ford offered a very attractive rate of pay to his workforce.Also reduced the length of working day to eight hours and introduced a thrid shift.which meant operating for 24 hours, this all helped the US economy to grow.

Affordable cards- 1926; the price haddropped down to $295. Ford introduced high purchase as a meathod of credit.Means more people are likely to buy it and pay the money later as their is credits available.

Advertising - modern advertising techniques to sell his cars, influnced the men by having pictures which would attract the men and the women by giving out a message.

Assembly line - Idea of conveyor belt.Made workers life easier. As years went more cars weremade rapidly.

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Credit

Easier for people to buy goods even when they did not have enough money.

Goods were paid for installments. about half of the goods were sold in the 1920s with high purchase.

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Consumerism

As profits increased so did wages.

The growth of the electrical goods and other sourceas also grew,such as the amount of oil used.

1923-1929: average wages rose by 8%

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The spread of electricity

by 1920 the elctricity industry really boomed. Most homes in the cities had electricity.More and more factories were run by electricity.

Range of domestic goods were made like radios.

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The impact of the first world war

during the war, the USA didnt really affected by the war whereas in Europe the war really affected them such as France.

so then many countries ended up borrowing huge sums of money from the USA.

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