Booming Economy

By Bryant Richardson, Ryan Christie, and Reid DuFault

There was a period of time when the economy declined when trade and other industrial activities were reduced. GNP is the total value of all goods and services produced. But then people began to hire experts to study how goods could be produced more quickly which was called scientific management. But each worker had a certain amount of work each worker could do. Then companies tried to create better relations with their employees by buying stock in the company, providing insurance to their employees, and made working conditions safer. The companies also discouraged employees to join separate unions. This was called Worker relations. The demand for consumer goods also began to grow. More and more people began to rely on electronic appliances for their everyday life activities. More appliances were required and consumer goods grew. It was called the growth of consumer goods. Then there was installment buying when people purchased a commodity over time and the buyer gets immediate ownership of the community, but still has to pay the installment over time. This is what made the economy horrible, because everyone was buying items they couldn't pay for. Then people began borrowing money from a broker to purchase stock which allows you to purchase more stock than usual. When Henry Ford began producing cars, people were needed to get the materials for the cars, to build roads, build gas stations, and build motels and diners. There were lots of car accidents due to the number of cars on the road. Technology made rapid industrial growth possible and powered american industry. In seven years the nations GNP went up 30 billion dollars!!!!!!!!!!



(Above) Graph of Consumer Price Index

(Above) Money

(Above) Model T Ford