The Booming Economy of the 1920's
By: Lizzie Mcdonnell and Shelby Ferry
Scientific Management is hiring experts to study how goods could be produced more quickly. People were sitting down and trying to figure out how much money they would be making. They tried to lower costs and increase productivity and effectiveness.
Some of the key points of the economy in the 1920's:
The recession lasted from January 1920- July 1921.
These are the 4 principles of scientific management.
GNP per year 1919-1929
Consumer Goods of the 1920's
Oscar Meyer Hot Dogs
-Rice Krispy Treats
-Planters Peanuts-Hall Mark Greeting Cards
GNP is the gross national product or the total value of all final good and products sold in a year. It measures the value of the goods and services produced by all citizens for a certain area. GNP can tell you the quality of a country; a higher GNP means a higher quality life style.