The Booming Economy of the 1920's
By: Lizzie Mcdonnell and Shelby Ferry
The Recession
Scientific Management
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:
Recession
The recession lasted from January 1920- July 1921.
Scientific Management
These are the 4 principles of scientific management.
GNP
GNP per year 1919-1929
Worker Relations
Consumer Goods of the 1920's
Oscar Meyer Hot Dogs
-Rice Krispy Treats
-Kool aid
- Coca-Cola
-Kraft Cheese
- Wheaties
-Planters Peanuts-Hall Mark Greeting Cards
GNP
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.