Boom

Front

What is an economic boom?

Back

A dramatic increase in a country's wealth

Front

What is a consumer society?

Back

A society where most people can afford to buy non-essential items

Front

How did WWI NOT contribute to the economic boom of the 1920s? Options: The USA was owed money by other nations it had lent to during the War, The USA's manufacturing industries produced lots of war materials to sell during the War, Other advanced nations like Germany and France suffered great damage during the War, More than 100,000 Americans died during the War

Back

More than 100,000 Americans died during the War

Front

Which of the following did NOT contribute to the economic boom of the 1920s?

• Low taxes encouraged investment and spending
• Tariffs on foreign products encouraged people to 'buy American'
• There was little regulation for companies to spend money complying with
• Many women returned to being housewives after WWI

Back

Many women returned to being housewives after WWI

Front

Which of the following statements is false?

• Mass production made it cheaper and faster to produce goods
• The car industry was important because it provided good jobs to lots of people
• The car industry was important because it created jobs in the industries that supplied the materials - glass, tyres, leather, and steel
• By 1930, every American owned a car

Back

By 1930, every American owned a car

Front

Which of the following statements is false?

• Advertising developed in the 1920s partly as a result of propaganda from WWI
• Advertising helped create demand for consumer products
• Advertising was the key to the economic boom of the 1920s
• Advertising encouraged people to strive for an 'ideal' life

Back

Advertising was the key to the economic boom of the 1920s

Front

What was Hire Purchase?

Back

A way of buying a product in instalments

Front

Which of the following statements is false?

• In a cycle of prosperity, most people have jobs and can afford to buy non-essential products
• In a cycle of prosperity, wages are rising and companies are doing well
• In a cycle of prosperity companies are struggling and sacking some workers
• In a cycle of prosperity, living standards are generally rising

Back

In a cycle of prosperity companies are struggling and sacking some workers

Front

What is the stock market?

Back

A market where people can buy shares in companies

Front

How did the stock market contribute to the USA's economic boom?

Back

Many people bought shares and made money as their value increased during the 1920s