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why there was a boon in the 1920s? - Coggle Diagram
why there was a boon in the 1920s?
Natural Resources
the USA had a great store of natural resources such as :wood,coal,iron,minerals,oil and land
this helped america become a massive industrial power in the start of the 20th century and helped further expansion in the 1920s
Credit
firms arranged for customers to pay with installments or with a hire purchase
the growth of credit means anyone can buy goods even if they couldn't pay for it
Mass-production
Henry ford was able to make cars so cheaply that thousands of ordinary people could buy them
new tevchniques meant that goods could be produced much more cheply on a large scale
Confidence
they were also had more confidence to try out more ideas
there was a lot of confidence in america meaning more people bought goods and invested in companies
Republican Politics
they didn't interfere in business or put any controls on financial institutions
they lowerd taxes on income and company profits giving the wealthy more money to invest in america industry and buildings
Mass-marketing
company spent huge amount of money on advertisement this persuaded more people to buy mass-produced goods
the expansion of mail-order gave people in the country side access to a wide range of goods
New Technology
new technological improvements came along, plastic like Bakelite helped in the making in new house hold products
electricity provided a cheaper, more efficient source of power for factories
First World War
america came out well after WWI as it took over the European over seas market after it supplied Europe during the war
in someplace in the world the US was the leader and the war helped improve technology which the us industry seized