Why did the economy boom?

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  • Created by: mooolie
  • Created on: 17-01-15 14:13
Population
Rapid growth, urbanisation
1 of 10
Abundant Raw Materials
Coal, oil, gas, and iron = enabled cheap production
2 of 10
Tariffs
Tax on imported goods
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Government
Republicans: Laissez-faire, trusts, cut taxes
4 of 10
Opportunities
85% had electricity, consumer goods
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Techniques of Production
Mass production, assembly lines, specialisation, standardisation
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Cycle of Prosperity
More sales = increased production = more workers with higher wages = more spending
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Advertising
Increased demand and promoted consumer goods
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Sales methods
New distribution methods, such as mail order
9 of 10
Hire Purchase
Loans with low interest rates
10 of 10

Other cards in this set

Card 2

Front

Coal, oil, gas, and iron = enabled cheap production

Back

Abundant Raw Materials

Card 3

Front

Tax on imported goods

Back

Preview of the back of card 3

Card 4

Front

Republicans: Laissez-faire, trusts, cut taxes

Back

Preview of the back of card 4

Card 5

Front

85% had electricity, consumer goods

Back

Preview of the back of card 5
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