BY: URSALAN KHAN
HISTORY COURSWORK:
WHY WAS THERE AN ECONOMIC BOOM IN THE U.S.A IN THE 1920'S?
In the 1920's the American economy enjoyed a period of "boom". This was a time of economic prosperity; people were spending more and earning more.
One main reason for the boom was the Ford car company, the y were producing automobiles in America at a mass rate. Making cars at a mass rate would mean the company would be making a lot of cars and quickly. The company was successful, people were buying their product and the company was making profit and helping the economy to grow.
When making their cars by mass production they would require a lot of workers, this would mean there would be a lot of jobs available and more people would be earning and less people would be unemployed. The people earning the money could then buy goods such as the cars and so companies would make more profit and so it would help the boom.
Because the Ford company was making, the industries from which they bought the materials to make the cars would also benefit. The iron industry benefited, Ford would buy iron from them and so they would have to make more iron and so would have to employ more workers. Then more people would earn and so more people would spend hence more money would go into the industry.
HISTORY COURSWORK:
WHY WAS THERE AN ECONOMIC BOOM IN THE U.S.A IN THE 1920'S?
In the 1920's the American economy enjoyed a period of "boom". This was a time of economic prosperity; people were spending more and earning more.
One main reason for the boom was the Ford car company, the y were producing automobiles in America at a mass rate. Making cars at a mass rate would mean the company would be making a lot of cars and quickly. The company was successful, people were buying their product and the company was making profit and helping the economy to grow.
When making their cars by mass production they would require a lot of workers, this would mean there would be a lot of jobs available and more people would be earning and less people would be unemployed. The people earning the money could then buy goods such as the cars and so companies would make more profit and so it would help the boom.
Because the Ford company was making, the industries from which they bought the materials to make the cars would also benefit. The iron industry benefited, Ford would buy iron from them and so they would have to make more iron and so would have to employ more workers. Then more people would earn and so more people would spend hence more money would go into the industry.