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Why was there a 1920's economic boom?
Description
GCSE History Mind Map on Why was there a 1920's economic boom?, created by mollyclark1 on 19/10/2013.
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gcse modern world history
history
history
gcse
Mind Map by
mollyclark1
, updated more than 1 year ago
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Created by
mollyclark1
almost 11 years ago
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Resource summary
Why was there a 1920's economic boom?
Mass-marketing
Wider range of goods
More techniques to entice people
More people who knew about the products the more they bought
World-wide sales through trade
First World War
Lent money to Europe
Taken over overseas markets
Countries exhausted after war
Sold goods to Europe while the men were fighting
New Technology
Modernised and devloped industries
Huge demands
Electricity provided a cheaper, more efficient power source. 1915- 15% by 1917 - 70% had electricity
People had more advanced products
Natural resources
Great Industrial power
Land minerals
Development in Industries
Credit
Borrow money- People could buy stuff even if they didn't have the money
Customers pay in instalments
Confidence
More risks taken
Buy shares and take loans
Believed America would stay strong and powerful
Mass production
Goods produced cheaper on a larger scale
Cars became so cheap that average Americans could buy
New Consumer Products
Policies of presidents
Protectionism
Laissez Faire - Don't interfere with anything
Lowered Taxes
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