Why was there a 1920's economic boom?

Mind Map by , created about 6 years ago

GCSE History Mind Map on Why was there a 1920's economic boom?, created by mollyclark1 on 10/19/2013.

Created by mollyclark1 about 6 years ago
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Why was there a 1920's economic boom?
1 Mass-marketing
1.1 Wider range of goods
1.2 More techniques to entice people
1.3 More people who knew about the products the more they bought
1.4 World-wide sales through trade
2 First World War
2.1 Lent money to Europe
2.2 Taken over overseas markets
2.3 Countries exhausted after war
2.4 Sold goods to Europe while the men were fighting
3 New Technology
3.1 Modernised and devloped industries
3.2 Huge demands
3.3 Electricity provided a cheaper, more efficient power source. 1915- 15% by 1917 - 70% had electricity
3.4 People had more advanced products
4 Natural resources
4.1 Great Industrial power
4.2 Land minerals
4.3 Development in Industries
5 Credit
5.1 Borrow money- People could buy stuff even if they didn't have the money
5.2 Customers pay in instalments
6 Confidence
6.1 More risks taken
6.2 Buy shares and take loans
6.3 Believed America would stay strong and powerful
7 Mass production
7.1 Goods produced cheaper on a larger scale
7.2 Cars became so cheap that average Americans could buy
7.3 New Consumer Products
8 Policies of presidents
8.1 Protectionism
8.2 Laissez Faire - Don't interfere with anything
8.3 Lowered Taxes

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