US Economy 1920s the usa economy after ww1

Question Answer
How did America make profit during WW1? selling food and ammunition to European countries while the USA wasn't involved in the war. Farmers did especially well.
Causes of the post war recession government expenditure was high during the war – things became expensive and wages decreased for a year.
Name some industries that were stimulated post ww1 chemical, textiles, oil and plastics
Oil industry trying to look for oil fieldsin rural areas (eg southern states) industry grew by 16 times from 1899 to 1929
Chemical industry prices of chemicals abroad went up by 10 times. produced potash (fertiliser) and Indigo (blue dye)
Name some new consumer goods cigarette lighters, watches, spray paint, pyrex glass, vacuum cleaners, fridges. Canned food doubled from 1914 to 1929
Who was involved in the stock market? everyone could buy and sell shares because it was very easy to buy on the margin if you couldn't afford the starting price
Why was the stock market so popular? Many companies were doing well so there was little risk so almost everyone made money. It became a fun social event.
Who was Henry Ford? He was an electrical engineer who founded the Ford Motor Company in 1909. First model was called 'tin lizzie' or model T
What was the Assembly Line? A more efficient way of assembling cars using an electrical conveyor belt which would move slowly past workers as they put on parts. 1913- car per 3 mins 1920- car per 20 secs
What did Ford do to his workers? in 1914 he doubled the workers wages and reduced the length of the day because people found the job boring.
How did Ford advertise? put attractive women in adverts to attract men and encourage women to drive.
Were Ford's cars affordable? yes because of new methods and technology the price of his cars were not too much. price dropped form $850 in 1914 to $295 in 1926. also used hire purchase.

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