THE ROARING 20S 1920 1929
AMERICAN ORGANIZED CRIME OF THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Most people lost their money in the stock market.
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Most people did not have jobs while business and banks failed.
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Most people experienced an economic boom due to technology.
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All people experienced an economic boom due to technology.
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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: -New technologies and manufacturing techniques helped focus the U.S. economy on the production of consumer goods, contributing to improved standards of living, greater personal mobility, and better communications systems.
Detailed explanation-4: -Advances in technology, mass production, and new advertising methods led to a vibrant consumer culture. Advertising came into its own throughout the 1920s. Installment buying, or buying on credit, allowed Americans to purchase expensive items like automobiles and refrigerators.