Consumer Culture in the 1920s

Questions and Answers

What characterized consumer culture in the 1920s?

People purchased nonessential goods on a regular basis. (correct)

Consumerism declined.

People purchased essential goods.

People mostly saved their money.

What was a reason consumerism increased in the 1920s?

Many working people earned more money.

During what years did consumerism cause the stock market to grow most?

1924-1929

Who was the US president connected to the Teapot Dome Scandal?

Warren G. Harding Signup and view all the answers

Why was the land called Teapot Dome in Wyoming valuable?

It produced oil. Signup and view all the answers

How did the growth of credit affect the stock market in the 1920s?

Investors bought more stocks on margin, and the stock market rose. Signup and view all the answers

What was an important feature of consumerism in the 1920s?

Manufacturers advertised goods. Signup and view all the answers

While consumerism during the 1920s boosted the economy, what was one negative effect?

Higher debt Signup and view all the answers

What did President Harding's economic policies contribute to during the 1920s?

The rise of consumerism. Signup and view all the answers

In the 1920s, what reflected the weakening economy?

The growing gap between the rich and the poor. Signup and view all the answers

What did Calvin Coolidge's economic policies during the early 1930s help people forget about?

The Teapot Dome Scandal. Signup and view all the answers

Study Notes

Consumer Culture of the 1920s

Nonessential goods became popular purchases among consumers, indicating a shift in spending habits.
Increased disposable income for many workers led to a rise in consumerism.

Economic Growth and the Stock Market

The stock market experienced significant growth from 1924 to 1929 due to rising consumerism.
Credit growth allowed investors to buy stocks on margin, further boosting stock market prices.

Teapot Dome Scandal

Warren G. Harding, as President, had economic policies tied to this major scandal involving corrupt leasing of federal oil reserves.
The Teapot Dome area in Wyoming became significant for its oil production, contributing to the scandal's economic implications.

Advertising and Consumerism

Manufacturers actively advertised goods, playing a critical role in the consumerism movement of the 1920s.
The push for advertising led to greater consumption but also contributed to rising personal debt levels.

Economic Disparities

The 1920s reflected a widening gap between the affluent and the impoverished, signaling economic inequality.
Harding's policies fostered an environment that promoted consumerism but did not address the disparities in wealth.

Legacy of Economic Policies

Calvin Coolidge's policies in the early 1930s served as an attempt to divert attention from the negative fallout of the Teapot Dome Scandal, impacting public perception.

Description

Explore the rise of consumerism in the 1920s with these flashcards. Understand the key factors that led to increased spending and examine the impact on the economy and stock market during this vibrant decade. Test your knowledge about important events and policies that shaped American consumer culture.