Question

What is meant by an ‘economic boom’?

Answer 1

The Economic boom of the 1920s saw rapid growth in GDP, production levels and living standards. The growth was fuelled by new technologies and production processes such as the assembly line. The economic growth also caused an unprecedented rise in stock market values – share prices increased much more than GDP.

Answer 2

Marked by productivity increases, sales increases, wage increases and rising demand. economic boom may be accompanied by a period of inflation