Economic Boom

Mass production

Mass production

Method of producing goods on a large scale and quickly

Protectionism

Imposing taxes on foreign goods to promote domestic purchases

Assembly line

Series of workers and machines assembling identical items

Laissez-faire

Government policy of minimal interference in the economy

Rugged individualism

Belief in self-reliance and free competition

Boom

Period of economic prosperity benefiting many

Trade union

Organized group protecting workers' interests

Fordney McCumber Tariff Act

Imposed taxes on foreign goods to boost American sales

Hire purchase and credit

Borrowing money to pay for goods over time

Calvin Coolidge

President advocating laissez-faire policy and business respect

Herbert Hoover

President promoting self-reliance and minimal government aid

Skyscraper

Tall building symbolizing corporate power and wealth

New consumer society

Shift towards increased consumption and new industries

Jim Crow laws

Segregation laws enforcing racial discrimination

KKK

White supremacist group promoting racial hatred and violence

Immigrants

People moving to a new country for residence or work

New industries

Emerging sectors like chemicals, electrical goods, and cars

Household electrical goods

Products powered by electricity for home use

Ford Model T

Affordable car produced by Henry Ford

New roads and suburbs

Infrastructure development due to increased car usage

Labour Unions

Organizations protecting workers' rights in negotiations

Wall Street Crash

Stock market collapse leading to the Great Depression

Depression

Severe economic downturn with high unemployment