Studied by 0 people
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
Note
Flashcard