social studies 20's boom

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social studies 20's boom
2012-02-27 18:48:45
social studies ss

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  1. free enterprise system
    • gov does not control buisnesses
    • our gov in early years
    • aka captialism
    • relies on supply and demand
  2. command economy
    gov decides and controls buisness
  3. buisness cycle
    • gradual increase in economy is good
    • big jumps or dips are bad
  4. infliction
    where there is too much money in the economy and the prices are rising too quickly or something that could cause a quick rise
  5. recession
    short downturn in the economy
  6. depression
    a downturn in the economy that lasts a long time and effects a lot of people
  7. oppurtunity cost
    • a decission that costs you an oppurtiny to make or spend money
    • the decision you don do is the oppurtunity cost.
  8. embargo
    • you dont sell to someone
    • a country refuses to sell to another country
  9. sanctions
    when you wont selll to a country or you put pressure on them by doing something that puts their economy at risk
  10. Harding
    • 1920
    • he wanted to restor the country, normalcy, prosperity
    • puts together an economy cabinet led by mellon- trickle down theroy
    • wanted to reduce money owed by gov
    • limit gov involvment in the economy
    • give money to wealthy and tax cuts so wealthy will create more jobs(trickle down theory)
  11. coolidge
    • 1924
    • honest, fires officials involved in bribery
    • vetoed aid to farmers
    • raised tarrifs
    • taxcuts for wealthy
    • more probuisness
  12. hoover
    • 1928
    • maintain economic prosperity
    • republican
    • appliances are booming, cars, electricity
  13. teapot dome scandal
    Teapot Dome Scandal: a political scandal in which U.S. secretary of the interior Albert Fall leased national oil reserves in Elk Hills, California, and Teapot Dome, Wyoming, to two companies that had bribed him