Why was there a 1920's economic boom?

Mass-marketing
1. Wider range of goods
2. More techniques to entice people
3. More people who knew about the products the more they bought
4. World-wide sales through trade
First World War
1. Lent money to Europe
2. Taken over overseas markets
3. Countries exhausted after war
4. Sold goods to Europe while the men were fighting
New Technology
1. Modernised and devloped industries
2. Huge demands
3. Electricity provided a cheaper, more efficient power source. 1915- 15% by 1917 - 70% had electricity
4. People had more advanced products
Natural resources
1. Great Industrial power
2. Land minerals
3. Development in Industries
Credit
1. Borrow money- People could buy stuff even if they didn't have the money
2. Customers pay in instalments
Confidence
1. More risks taken
2. Buy shares and take loans
3. Believed America would stay strong and powerful
Mass production
1. Goods produced cheaper on a larger scale
2. Cars became so cheap that average Americans could buy
3. New Consumer Products
Policies of presidents
1. Protectionism
2. Laissez Faire - Don't interfere with anything
3. Lowered Taxes

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	Created by mollyclark1 over 10 years ago