Explain the economic changes of the 1920s? Include in your discussion: the stock market, consumerism, installment plans, mass production, assembly line.

course hero :

a.In the early 1920s, the U.S. economy began to expand. Between 1921 and 1923, the nation's gross domestic product (GDP), rose sharply. Wages for non-farm workers were more than double those of 1915, and they continued to grow slowly over the next several years. People also earned a great deal of money investing in the stock market. In turn this allowed people to buy the new popular technologies that were coming out.

b.During the 1920s, consumerism became an important part of U.S. society. It emerged as an influential force and its advertising convinced Americans to buy things not because theyneeded them, but simply because they wanted them

c.During the 1920s, retailers and banks introduced installment plans. This arrangement, also called credit buying, allowed consumers to make small, regular payments toward the full purchase price of goods.Installment buying and easy consumer credit helped the economy boom.This "buy now, pay later

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