• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

DESCRIBE THE MAIN ASPECTS OF THE ECONOMIC BOOM IN THE USA IN THE 1920's?

Extracts from this document...

Introduction

DESCRIBE THE MAIN ASPECTS OF THE ECONOMIC BOOM IN THE USA IN THE 1920's? After World War One, America became a very rich country. For eight years between 1921 to1929, there was a boom in the American economy. During this period business did very well, sales increased, profits increased and shares rose. Even ordinary Americans were investing money in the stick market hoping that their shares in the companies would make large profits. This was called the Economic Boom. The American economy was in a powerful position at the end of World War I. Countries that could not buy weapons; ammunition and food from Europe were forced to buy American goods during and after the war. ...read more.

Middle

Mass production created a lot of jobs: this was because businesses such as Ford were making more and more products. New industries prospered and produced high quality goods, rapidly and cheaply. Workers salaries increased and the average standard of living increased as well. This meant that people with no particular skills or experience could get a job as jobs were widely available and meant that unemployment level kept falling. People were gaining money not only through their normal work, but also though speculation in the stock exchange. Firstly, the increase in production of motor cars meant the number of people owning cars increased thus more roads and infrastructure had to be built. ...read more.

Conclusion

A further effect of mass production meant that a very high percentage of people had cars and could not get further put of the city and thus in time new roads became better necessitates to be built and improved. Mass production created a domino effect on other industries being produced. Selling millions of goods to a mass market needed new techniques of advertising. Posters and magazines all told the US public, in glowing terms, about the new goods on offer As radios were produces, music was more widely listened to, radio stations developed and companies and stores would advertise new products on these stations, therefore enriching new costumers into buying new products, this then aided business to grow. Cities became bigger as more and more people moved out to the new suburbs. Also American economy increased with people's spending. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE USA 1919-1941 section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE USA 1919-1941 essays

  1. To what extent did America roar in the 1920s?

    However, in general, this decade was a time of poverty and hardship and it was the small farmers and labourers who lost out. Although life was tough for farmers, women were seeing a transformation in the way they were treated.

  2. Explain the main features of the economic boom in the 1920's

    Sales nearly doubled during the booming years. In the 1920's Americans were enjoying their lifestyle due to all the products being available on the market. There was confidence in the American people. This then persuaded them to buy more goods by cash and now even credit.

  1. Why was there an economic boom in the USA in the 1920s?

    This also fuelled mass production, mentioned earlier, which helped develop new methods in the primary and secondary sectors of business. This helped modernize existing industries and develop new ones. Electricity was also born - a cheaper, more efficient source of power and light for factories and households.

  2. What caused the economic boom in the 1920s in the USA?

    decent, sensible decisions. What fuelled the boom in 1920s USA was that perfectly ordinary people were able to buy shares; some people had to do it on credit because they didn't actually have the 'real' money and these were the people who panicked first in October 1929.

  1. Describe the main aspects of the economic boom in the 1920s.

    It soon became very famous in which movie stars were idolized by fans and the film industry became more sexual, for example a huge sex symbol was Rudolf Valentino. This meant that sex before marriage became more common.

  2. Describe the main aspects of the economic boom in the 1920s.

    By doing this, Ford was able to sell more cars, resulting in the increase of wages and the cut in cost of the cars themselves. As the price of cars dropped, more people were able to afford them.

  1. Presidents in the 1920s USA

    Another factor that allowed new industries to develop was electricity. Many new products such as washing machines, refrigerators and toasters ran on electricity.

  2. Revision Notes - the USA in the 1920s and 30s.

    Much fewer people were dying due to alcoholism-dropped by 80% by 1921, but an increased number of people were killed due to poisoned alcohol(50000 in 1926). Many lost jobs in brewing industry-when prohibition ended in 1933, only 9 of 22 breweries reopened in St Louis.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work