After WW1 ended America was in a very fortunate position. The war had not directly affected America and it's society but it had affected others. Consequently, demand for American goods was high. This resulted in rapid growth in America's industry.
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Economic Boom
This was mainly due to technological advances and increased consumer demands. America's businesses began to make huge profits.
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Model T-Ford
Above all, the motor industry boomed. Cars could be made quickly due to the introduction of the assembly line. There was a need for more rubber to make tires, glass for windscreens and leather for seats - these industries boomed.
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Assembly Line
Henry Ford developed the Assembly Line to speed up production of Motor Cars. This meant more could be sold and sold CHEAPER ($300) resulting in a boom of the Motor Industry.
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Shares
Businesses raised money for expansion by selling shares on the Stock Exchange.
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Isolationism
America wanted to stay out of other people's affairs. The government impose high import tariffs to make sure American Citizens bought American Products not foreign products. Reduced foreign competition.
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Hire Purchase
Allowed people to buy goods and pay for them in installments meaning people could afford more products, and increased demands for goods.
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Consumer Durables/White Products
E.G: Fridge. Goods that are designed to last a long time. They became much more popular as people could not afford them before the introduction of Hire Purchase.
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Laissez-Faire
'Let It Be' - Letting businesses grow without government help.
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Tarrifs
The Gov put high taxes on foreign goods meant that Americans would buy American goods not foreign ones.
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Other cards in this set
Card 2
Front
This was mainly due to technological advances and increased consumer demands. America's businesses began to make huge profits.
Back
Economic Boom
Card 3
Front
Above all, the motor industry boomed. Cars could be made quickly due to the introduction of the assembly line. There was a need for more rubber to make tires, glass for windscreens and leather for seats - these industries boomed.
Back
Card 4
Front
Henry Ford developed the Assembly Line to speed up production of Motor Cars. This meant more could be sold and sold CHEAPER ($300) resulting in a boom of the Motor Industry.
Back
Card 5
Front
Businesses raised money for expansion by selling shares on the Stock Exchange.
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