12.4 Delbagno

Rising prices

• deflation

• inflation

• stagflation

• buying on margin

A term meaning that other countries in the world owed the United States more money than the United States owed them. World War I shifted the economic center of the world from London to New York City.

• creditor nation

• inflation

• buying on margin

• bull market

The founder of the Ford Motor Company. He revolutionized the automobile industry with his assembly line and treatment of workers. The Model T ushered in the age of the automobile in the United States.

• Henry Clay

• Henry Ford

• John J. Pershing

• Woodrow Wilson

A reliable car the average American could afford. The first of this model sold for $850.  Soon after, Ford opened a new plant on the Detroit River. The Detroit location gave Ford easy access to steel, glass, oil and rubber.

• Model A

• Model B

• Model S

• Model T

The rapid manufacture of large numbers of identical products.

• mass production

• assembly line

• bull market

• inflation

A new method of improving efficiency in which experts looked at every step of a manufacturing process to find ways to reduce time, effort and expense.  This idea was pioneered by Frederick Winslow Taylor.  This method is also sometimes called Taylorism

• scientific notation

• inflation

• mass production

• scientific management

An arrangement of equipment and workers in which work passes from operation to operation in direct line until the product is assembled. This method was used by Henry Ford in the production of his Model T.

• mass production

• scientific management

• assembly line

• installment buying

A time when a flood of new, affordable goods became available to the public. The widespread availability of electrical power supported this.

• inflation

• assembly lines

• mass production

• consumer revolution

A method of buying goods where a consumer would make a small down payment and then pay off the rest of the debt in regular monthly payments.  This allowed Americans to own products they might otherwise have had to save up for years in order to buy.

• assembly lines

• bull market

• installment buying

• consumer revolution

A period of rising stock prices. More and more Americans put their money into the stock market at this time in an effort to get rich quickly.  By 1929, 4 million Americans owned stocks.

• inflation

• bull market

• buying on margin

• stagflation