History - USA topic 1
keywords
lets gooo
what is capitalism ?
An economic system where the government interferes with the economy as little as possible, and wealth is created through privately-owned business
what are entrepreneurs ?
A person who sets up a business or businesses
what is prohibition ?
The action of banning something by law (in this topic, alcohol)
what is congress ?
Congress is made up of the Senate and the House of Representatives. Congress and the President run the country
who are the The Supreme Court ?
This is made up of judges who are usually very experienced lawyers.
what is a chaperone ?
Someone who accompanies and looks after another person
what is bolshevism ?
the name given to communism in russia
what is an amendment ?
the act of making changes to the constitution
what is the constitution ?
This lays out how the government is supposed to operate and what it is allowed to do
checkpoint :)
causes of the economic boom: LACKPANTS
what does Laissez Faire mean ? + literal meaning
to do nothing. the government believed they should play as little part as possible in the economy
what is the Assembly Line ?
A new method invented by Henry Ford
what is credit ?
paying for goods in instalments
what is knowledge ?
creation of new technology and inventions
position in the world ?
The USA was the richest country in the world after WW1
what are advertisements ?
Used extensively in this period
what are new comsumer goods ?
Creation of fridges, radios etc which were cheap to purchase
what are tariffs ?
Putting taxes on foreign goods
what is share confidence ?
buying shares in companies in order to make a profit