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Industry and social change < p>Your web browser does not have JavaScript switched on at the moment. For information on how to enable JavaScript please go to the Webwise sitea>.</p>< p>You will not be able to see this content until you have JavaScript switched on.</p>
Key points- Industrial production virtually doubled in the 1920s. America was in the cycle of prosperity.
- The five causes of this were isolationism, technology, mass production, hire purchase and shares.
- Isolationism - the government imposed high import tariffs to limit foreign competition.
- Technology - advances led to the rise in the electrical, chemical and film industries, and new products were available to buy.
- Mass production - Henry Ford's assembly line method increased car production. Other factories copied this so mass production spread.
- Hire purchase - buying now and paying later meant more people could afford products and increased the demand for goods.
- Shares - business raised money for expansion by selling shares on the Stock Exchange.
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How did the development of hire purchase affect America in the 1920's?
The development of hire purchase, which means the purchase of goods on credit, was very prevalent during the 1920s. The ability to buy on credit, shares a part in the conspicuous consumption and easy credit to unworthy candidates that contributed to the stock market crash and the Great Depression.
When was the Origin or development of hire purchase?
origin and development of hire purchase
What are the advantages of hire purchase as a source of finance?
Hire purchase can give the good profit,
Advantage of hire purchase?
One advantage of hire process is that it allows low-income individuals to purchase items that would otherwise be out of their budget. Hire purchase is also known as installment plan.
Why would a company use hire purchase?
The legal term for hire purchase is a contract. Companies may prefer using hire purchase because it spreads the costs of expensive items over a period of time.
What means repossesion as regard to hire purchase?
If a company fails to make it's repayment under the hire purchase agreement then the loan providers can tale the goods bought under the hire purchase as settlement for the loan.
What is the explanation for the features of hire purchase system?
higher purchase
Solve you a problem on hire purchase system?
caluculation of intrest under hire purchase system
What is the adjective for hire?
The verb to hire has the participle adjectives hiring and hired. For the noun hire, it can be used as a noun adjunct (hire car, hire purchase).
What is the meaning of hp?
Hire Purchase
Hire purchase?
Paying in instalments
What are the advantages and disadvantages of hire purchase?
someone answer it!
