Increased the number of good produced and lowered their prices (10% drop in prices from 1924-1929).
This lead to an increase in the construction of factories, which created more jobs.

For example, the car industry

Henry Ford transformed this industry.
He made cars on a production line.
This increased the number of cars produced.
In 1900 only 4000 cars were produced each year.
By 1929, 4.8 million cars were produced each year.
It helped reduce assembly time from 12.5 hours to 1.5 hours in 1914- by 1925, Ford produced a car every 10 seconds.
In 1909 a Model T Ford cost $1200, but by 1928 ir only cost $295.
From 1908-1927 over 50% of cars sold in the USA were Fords.
By 1928, 20%of all Americans owned cars.
Ford's slogan was "you can have any colour you like as logn as it is black".
Ford raised the minimum wage from $5 a day (more than twice the usual wage).
He also reduced the working day from 9 to 8 hours.
This resulted in people flocking to Ford plants in search of a job.
1 in 5 Americans owned a car by the end of the decade.
in 1920 there were 9 milion cars in the USA, and by 1929 there were 26 million more.
Almost 500,000 wokers were employed in the car industry.

	Creado por Phoebe Howard hace más de 7 años

GCSE History paper 2 Diapositivas sobre Reasons for economic prosperity- 1920s America, creado por Phoebe Howard el 05/06/2017.