THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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producing goods in high volume and expecting Europeans to purchase their goods.
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producing less goods and expecting Europeans to purchase their goods.
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producing goods in high volume and expecting American consumers to buy all good produced.
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producing less goods and expecting Americans to buy all of it.
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Detailed explanation-1: -The main reasons for America’s economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers.
Detailed explanation-2: -The 1920s is the decade when America’s economy grew 42%. 1 Mass production spread new consumer goods into every household. The modern auto and airline industries were born. The U.S. victory in World War I gave the country its first experience of being a global power.
Detailed explanation-3: -Summary and definition: The Economic boom in the 1920’s was a period in American History often referred to as the Roaring Twenties. This period of economic boom was marked by rapid industrial growth and advances in technology.
Detailed explanation-4: -The Effects of Mass Production While mass production and assembly lines allowed for a boom of economic growth, it also brought a substantial increase in collective and individual prosperity throughout the 1920s. This, however, was brought to a halt at the end of the decade by the Great Depression.