Boom or Bust - Age of Oil

Boom or Bust

(Age of Oil)

Boom or Bust:

• Boom:  sudden growth or expansion of the economy

• Bust:  sudden decline in the economy

Directions:

Directions:

Each statement relates to the economy in Texas during the early 20th century. Label each one as a boom or bust.

Multiple Choice

Railroads come to Texas opening up new markets for farmers.

• Boom

• Bust

Multiple Choice

Discovery of Oil at Spindletop.

• Boom

• Bust

Multiple Choice

Overproduction of cotton leading to a drop in cotton prices

• Boom

• Bust

Multiple Choice

Overproduction of cotton leading to a drop in cotton prices

• Boom

• Bust

Multiple Choice

High demand for cattle in the North

• Boom

• Bust

Multiple Choice

First automobile was invented by Henry Ford.

• Boom

• Bust

Multiple Choice

The population of Texas increased production of agricultural products.

• Boom

• Bust

Multiple Choice

Populations in Urban(city) areas grew.

• Boom

• Bust

Multiple Choice

The Great Plains experienced drought and blizzards

• Boom

• Bust

Multiple Choice

The cost of farming equipment increased putting farmers further in debt

• Boom

• Bust

Multiple Choice

Price of cattle dropped because people could not afford to buy them.

• Boom

• Bust

Multiple Choice

Over farming of the land made it more difficult to grow crops.

• Boom

• Bust

Multiple Choice

Monopolies caused the price of shipping on the railroad to increase.

• Boom

• Bust