SFA History - American Economy
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| List 3 financial benefits that the USA gained from the First World War | show 🗑
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| show | Unemployment
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| List 8 reasons for the BOOM! | show 🗑
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| How did advertising contribute to the boom? | show 🗑
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| show | Calvin Coolidge
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| show | Republican party
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| show | Laissez-Faire
Rugged Individualism
Fordney McCumber tariffs
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| What is meant by "laissez-faire"? | show 🗑
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| show | Taxes on foreign goods. This made them more expensive so people would buy American goods.
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| What concept means that people should not expect help from the government, they can overcome difficulties through hard work? | show 🗑
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| show | One of the first plastics - a new invention in the 1920s.
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| How did the cinema contribute to the boom? | show 🗑
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| How did transport boom in the 1920s? | show 🗑
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| show | Model T
mass production
assembly line
standardisation
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| show | Mass production meant Model T's were cheao to buy.
Gave people freedom and independence.
Meant people in the countryside could reach shops in the cities.
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| Why did some people dislike the Model T? | show 🗑
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| show | Invented Model T - gave people freedom and independence
Pioneered mass production - other industries copied him
People copied his business ideas
Success of Model T helped contribute to the boom (more jobs in glass, rubber industries etc)
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| Why were all Model T's standardised? | show 🗑
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| show | Could not sell goods to Europe after war as they were producing their own.
Prices fell.
many farmers in debt and lost their land.
BUT LARGE, MECHANISED FARMS DID WELL!
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| show | Farmers
Black people
Immigrants
People working in old industries (coal, iron)
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| Why didn't Black people benefit from the boom? | show 🗑
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| Name two famous buildings that were constructed in the 1920s? | show 🗑
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| show | Model T
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| What were the reasons for the Wall Street Crash? | show 🗑
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| What were the 2 short-term causes of the Wall Street Crash? | show 🗑
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| Why did nearly 60% of America population live near? | show 🗑
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| show | Buy now, pay later.
or
Buying on 'hire-purchase'
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| How did overproduction contribute to the Wall Street Crash? | show 🗑
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| show | Borrowing money to buy shares, in the hope that they will gain value.
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| show | 29th October 1929
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| show | People rushed to sell their shares, worried that the value was dropping.
This made the value of shares worthless and eventually the stock market crashed.
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| show | October 29th, 1929.
People panicked and rushed to sell shares.
Value of shares became worthless and the stock market crashed.
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| show | People bought shares 'on the margin' (borrowing money.
They gambled that they would go up in value.
When the value of shares started to drop - people started to panic-sell.
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| Why didn't immigrants benefit from the boom? | show 🗑
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| show | People had the 'feel-good factor'
Had confidence in the American economy
This encouraged them to buy American goods and therefore industries boomed!
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Created by:
allenk
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