Why was there a 1920's economic boom?


GCSE History Mind Map on Why was there a 1920's economic boom?, created by mollyclark1 on 10/19/2013.
Mind Map by mollyclark1, updated more than 1 year ago
Created by mollyclark1 over 9 years ago

Resource summary

Why was there a 1920's economic boom?
  1. Mass-marketing
    1. Wider range of goods
      1. More techniques to entice people
        1. More people who knew about the products the more they bought
          1. World-wide sales through trade
          2. First World War
            1. Lent money to Europe
              1. Taken over overseas markets
                1. Countries exhausted after war
                  1. Sold goods to Europe while the men were fighting
                  2. New Technology
                    1. Modernised and devloped industries
                      1. Huge demands
                        1. Electricity provided a cheaper, more efficient power source. 1915- 15% by 1917 - 70% had electricity
                          1. People had more advanced products
                          2. Natural resources
                            1. Great Industrial power
                              1. Land minerals
                                1. Development in Industries
                                2. Credit
                                  1. Borrow money- People could buy stuff even if they didn't have the money
                                    1. Customers pay in instalments
                                    2. Confidence
                                      1. More risks taken
                                        1. Buy shares and take loans
                                          1. Believed America would stay strong and powerful
                                          2. Mass production
                                            1. Goods produced cheaper on a larger scale
                                              1. Cars became so cheap that average Americans could buy
                                                1. New Consumer Products
                                                2. Policies of presidents
                                                  1. Protectionism
                                                    1. Laissez Faire - Don't interfere with anything
                                                      1. Lowered Taxes
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