October 28, 2013 1. 21.2 Notes (part 1)- A Growing Economy of the 1920’s 2. Video Clip: Model T 3. 21.3 Vocabulary 4. Return Quizzes and Work ***Unit III.

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Presentation transcript:

October 28, Notes (part 1)- A Growing Economy of the 1920’s 2. Video Clip: Model T Vocabulary 4. Return Quizzes and Work ***Unit III Exam (1920’s- Chapters 20 & 21) Thursday, October 31, 2013***

Unit III THE ROARING 1920’S 21.2 A Growing E c o n o m y

The Rise of New 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)

The Rise of New Industries Ford increased employee wages, cut work day to 8 hours, and gave weekends off. Ford increased employee wages, cut work day to 8 hours, and gave weekends off. By mid-1920’s, General Motors and Chrysler competed with Ford. By mid-1920’s, General Motors and Chrysler competed with Ford.

The 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. Metal Metal Oil Oil Rubber Rubber Infrastructure Infrastructure Advertising Advertising

October 29, Finish 21.2 Notes Guided Reading Q’s Unit III Exam- 1920’s- Thursday (Chapters 20 & 21)

The Consumer Society Consumer revolution: Many new & affordable goods available. (electric washing machines, vacuums, refrigerators, irons, radio, etc.) Consumer revolution: Many new & affordable goods available. (electric washing machines, vacuums, refrigerators, irons, radio, etc.) New method of buying called installment buying. New method of buying called installment buying. 10% down payment then monthly payments + interest. 10% down payment then monthly payments + interest.

Farm Crisis Early 1900’s: Technological advances (pesticides, machinery, etc.) allowed farmers to produce more. Early 1900’s: Technological advances (pesticides, machinery, etc.) allowed farmers to produce more. This was great during WWI (to feed our troops and Allied soldiers.) This was great during WWI (to feed our troops and Allied soldiers.) So many farmers had to borrow money to buy more land, equipment, etc. So many farmers had to borrow money to buy more land, equipment, etc. There was a decrease in demand for American food in Europe after WWI. There was a decrease in demand for American food in Europe after WWI. Led to a surplus of food. Led to a surplus 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 1920’s. Farming industry experienced serious recession throughout 1920’s.

Promoting Prosperity Government promoted prosperity in 1920’s through: Government promoted prosperity in 1920’s through: Supply-side economics: Supply-side economics: Lower taxes… Lower taxes… Businesses & consumers spend or invest more money… Businesses & consumers spend or invest more money… Economy grows… Economy grows… Americans earn more money working or selling goods… Americans earn more money working or selling goods… Government collects more taxes on everything! Government collects more taxes on everything!