Boom and Bust

Question 1

Which best explains why people failed to make their promised payments on items during the 1920s?

Revolt · Accepted Answer

They bought too much.

Question 2

During which decade did an economic boom and bust occur in the United States?

Revolt · Accepted Answer

1920s

Question 3

How did consumers weaken the economy in the late 1920s?

Revolt · Accepted Answer

Consumers bought too many goods they could not afford.

Question 4

Which is an example of using credit?

Revolt · Accepted Answer

A consumer buys an item and promises to pay later.

Question 5

In the 1920s, what did businesses and industries do that caused the economy to slow down?

Revolt · Accepted Answer

They overproduced goods.

Question 6

Businesses and industries in the 1920s most closely followed the buying demands of

Revolt · Accepted Answer

consumers.

Question 7

Look at the graph. Then answer the question.Which best explains what had happened in general by the end of October 1929 in the stock market?

Revolt · Accepted Answer

The market had lost much of its value.

Question 8

To meet demand in the early 1920s, businesses and industries produced

Revolt · Accepted Answer

more goods that were less expensive.

Question 9

Which best summarizes American economic issues at the end of the 1920s?

Revolt · Accepted Answer

overproduction, too many credit purchases, stock speculation

Question 10

In 1929, unresolved economic issues led to

Revolt · Accepted Answer

a stock market crash.

Boom and Bust Answers