Fichas
USA 1917-29 Boom and Consumerism
Fichas del conjunto (22)
- 1When did the USA become the richest country in the world?In the 1920s
- 2The American Government followed a "Laissez faire" policy. What does this mean?1. The government let big businesses have their own way
2. There were very few rules for businesses so they could make as much money as possible - 3Give two other ways that the government helped business make good profits1. American businesses paid very little tax
2. Very high taxes (tariffs) made foreign goods more expensive - 4How was America "naturally" rich?Rich in raw materials such as wood and oil
- 5Which man-made disaster made the USA even more prosperous?WW1
- 6Name the car manufacturer who first used mass-production(Henry) Ford
- 7Give two features of mass-production1. A moving assembly line
2. Division of labour (one person, one job) - 8Before standardisation, one car was individual and took 12 hours to make. How long did it take to make the standard version?1 and a half hours
- 9Which other industries benefited from the boom in the car industry?Oil/petrol industry
Glass
Iron and steel
Rubber and tyre industries - 10Lots more jobs were create from the boom in car ownership- name twoWorking in diners and motels/ garages/ mechanics/ car dealerships/ road building/ travelling salesmen
- 11Name two "new" consumer goods that were cheaper because of mass productionRadios, refrigerators, telephones, washing machines
- 12What does "Hire purchase" mean?A credit agreement where a small deposit is paid and the rest of the balance is paid off in installments over time
- 13Give two examples of goods which saw a large increase in sales during the 1920sFridges, radios, cars, washing machines
- 14How much did the average wage rise by in the 1920s?8%
- 15What is a "Billboard"?A large advert placed on buildings or by roads
- 16What is a "share"?A portion of a company that you can buy in order to get a piece of company profits
- 17What is a dividend?The share of a companies profits that you gain for investing in them
- 18What is buying "on the margin"?A credit agreement for buying shares, a small deposit is paid and the bank loans you the rest of the money to buy
- 19In the 1920s, where was the New York stock exchange found?On Wall Street
- 20Why did agriculture not share in the "Boom" times of the 1920s?Huge demand from WW2 had gone, too much was produced (surplus), mechanisation, prohibition (grapes and barley not in demand)
- 21Name two old industries that did not benefit from the boomCoal, shipbuilding, railways, natural textiles- eg. leather and cotton
- 22Give two other underlying weaknesses/problems in the US economyMany Black Americans were poor/ some immigrants were poor/ many workers and women poorly paid- didn't get a fair share of the profits/ Southern states poorer than North