october 28, 2013 1. 21.2 notes (part 1)- a growing economy of the 1920’s 2. video clip: model t 3....
TRANSCRIPT
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October 28, 2013October 28, 2013
1.1. 21.2 Notes (part 1)- A Growing Economy of the 21.2 Notes (part 1)- A Growing Economy of the 1920’s1920’s
2.2. Video Clip: Model TVideo Clip: Model T
3.3. 21.3 Vocabulary21.3 Vocabulary
4.4. Return Quizzes and WorkReturn Quizzes and Work
***Unit III Exam (1920’s- Chapters 20 & 21) Thursday, October 31, 2013***
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Unit IIIUnit IIITHE ROARING 1920’STHE ROARING 1920’S
21.2 A Growing 21.2 A Growing
EEccoonnoommyy
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The Rise of The Rise of New IndustriesNew Industries
Henry Ford changed the automobile industry through mass production.
He introduced the Model T. Put cars on assembly lines,
which reduced the time needed to make an automobile.
Less time needed = greater output of cars (new car every 10 seconds!)
Made cars more affordable ($295)
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The Rise of New IndustriesThe Rise of New Industries Ford increased employee wages, cut work day to 8 Ford increased employee wages, cut work day to 8
hours, and gave weekends off.hours, and gave weekends off. By mid-1920’s, General Motors and Chrysler By mid-1920’s, General Motors and Chrysler
competed with Ford.competed with Ford.
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The Rise of New IndustriesThe Rise of New Industries The boom in the car industry assisted in the growth of other businesses.The boom in the car industry assisted in the growth of other businesses. MetalMetal OilOil RubberRubber InfrastructureInfrastructure AdvertisingAdvertising
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October 29, 2013October 29, 2013
1. Finish 21.2 Notes
2. 21.3 Guided Reading Q’s
Unit III Exam- 1920’s- Thursday (Chapters 20 & 21)
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The Consumer The Consumer SocietySociety
Consumer revolution: Consumer revolution: Many new & affordable Many new & affordable goods available. goods available. (electric (electric washing machines, vacuums, washing machines, vacuums, refrigerators, irons, radio, refrigerators, irons, radio, etc.)etc.)
New method of buying New method of buying called called installment buyinginstallment buying..
10% down payment then 10% down payment then monthly payments + interest.monthly payments + interest.
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Farm CrisisFarm Crisis
Early 1900’s: Technological advances (Early 1900’s: Technological advances (pesticides, machinery, pesticides, machinery, etc.etc.) allowed farmers to produce more.) allowed farmers to produce more.
This was great during WWI (to feed our troops and Allied This was great during WWI (to feed our troops and Allied soldiers.)soldiers.)
So many farmers had to borrow money to buy more land, So many farmers had to borrow money to buy more land, equipment, etc.equipment, etc.
There was a decrease in There was a decrease in demanddemand for American food in Europe for American food in Europe after WWI.after WWI.
Led to a Led to a surplussurplus of food. of food. So farmers then received lower prices for their crops.So farmers then received lower prices for their crops. Farmers earned less and couldn’t repay all loans.Farmers earned less and couldn’t repay all loans. Farming industry experienced serious recession throughout Farming industry experienced serious recession throughout
1920’s.1920’s.
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Promoting ProsperityPromoting Prosperity Government promoted Government promoted
prosperity in 1920’s through:prosperity in 1920’s through: Supply-side economics:Supply-side economics: Lower taxes…Lower taxes… Businesses & consumers spend Businesses & consumers spend
or invest more money…or invest more money… Economy grows…Economy grows… Americans earn more money Americans earn more money
working or selling goods…working or selling goods… Government collects more taxes Government collects more taxes
on everything!on everything!