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Unit 4 Lesson 1 Review
Economics of 1920s and 1930s
12
History
11th Grade
04/23/2018

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Cards

Term
Loan
Definition
The act of lending money to someone or a group of people. The receivers pay back the loan with an extra fee called interest.
Term
Consumerism
Definition
A type of consumer spending; US individuals spend more money because an economy offers numerous new inventions and products
Term
Over-production
Definition
An excess amount of goods that leads to lower prices or a lot of unsold goods. Businesses produce goods that people can't buy.
Term
Under-consumption
Definition
A situation where people are buying far less in an economy, which results in business depression (or a loss of money).
Term
Stock Market
Definition
A place where every day people/investors can buy stock in businesses.
Term
Stocks
Definition
Shares of a company that are sold to investors in order to raise money for the company in the hopes that the company's overall value will increase
Term
Investors
Definition
People who put their money into the stock of a company in the hope of the stock value increasing.
Term
American Dream
Definition
The belief that every American can work hard to get what they want.
Term
Old Industries
Definition
Older Industries such as mining and textiles where wages were low
Term
Roaring Twenties
Definition
A boom time when consumerism encouraged people to buy on credit, and new music, dances, and entertainment helped people celebrate the end of WWI and their success.
Term
Herbert Hoover
Definition
President of the United States from 1929-1933 who believed in laissez-faire economic policies that took a hands-off approach to the economy.
Term
Unemployment
Definition
State of being unable to find a job when you are actively searching for one.
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