We examined two of the most famous asset bubbles of the last century: the 1920s Bubble and the Great 1990s (Dot-Com) Bubble.

a) In the 1920s Bubble, low margin requirements played a pivotal role during both the mania and the crash.Briefly describe how low margin requirements helped push stock prices up during the late 1920s and then contributed to their sudden decline in October 1929.

b) The Dot-Com Bubble centered on e-commerce businesses. While many of these businesses failed at the time, e-commerce is now an important part of our economy.Briefly describe one factor that helps e-commerce businesses thrive today, but was not present during the late 1990s Bubble (there are multiple possible answers).