WHY WAS THERE A BOOM?

1. Wood
2. Iron
3. Coal
4. Minerals
5. Land
6. Oil

Anmerkungen:

• These made industry more efficient and cheap to run.

1. Electricity
2. Plastics
3. Conveyor belts
4. Concrete Mixers

1. Pioneered by Henry Ford
2. Taken on by all industries
3. Faster and cheaper
4. Assembly line

   Anmerkungen:

   • This made work faster and cheaper because each worker had a small, repetitive job and machines were doing the difficult work. 

1. Huge amounts spent on it
   1. Newspapers
   2. Radio
   3. Cinemas
   4. Billboards
2. Aware of products
3. Products looked desirable
4. Key markets
   1. Flappers
   2. Housewives
   3. Businessmen

1. Hire purchase
2. Installments
3. "Buy now, pay later"

1. Didn't see risk
2. Boom never end
3. USA= richest country

   Anmerkungen:

   • The USA was the richest country in the world, this meant that people thought that they shouldn't have to worry about the price of things.

1. Harding, Coolidge & Hover

   Anmerkungen:

   • They were the presidents who started putting tariffs on foreign goods.
2. Lowered taxes on American goods

   Anmerkungen:

   • This meant that people were more likely to pay for American products.
3. 'Buy American'

   Anmerkungen:

   • This mean that all of the American money stayed in America. 
4. Laissez Faire

   Anmerkungen:

   • This means that the government doesn't interfere with businesses, it allows them to run them the way they want to. For example letting them set their own wages and enforcing their own working conditions. Business men made high profits!!