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USA 1920s boom

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Key reasons for the Economic Boom

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Terms in this set (30)

Key reasons for the Economic Boom

- Natural Resources
- Cheap labour force
- Impact of First World War
- Spread of Electricity
- Technological Change
- Consumerism
- Advertising & Easy Credit
- Confidence
- Speculation & growth of Stock Market
- Policies of Republican Presidents

Natural Resources

USA was rich in raw materials like oil, coal and iron.

Image: Natural Resources

Cheap labour force

Immigration provided cheap labour

Impact of the First World War

- USA industries grew to provide European countries with weapons, food & raw materials
- US business was able to gain a big lead over their European competitors and won control of overseas markets
- War resulted in mechanisation & USA led the way in new technology

Spread of Electricity

- More and more factories using electricity in 1920s, resulted in development of assembly line
- More and more home having electricity enabling development of various consumer goods like washing machines, fridges and vacuum cleaners
- Stimulated economic development