Podcast
Questions and Answers
Overproduction of goods caused a decrease in consumption during the Great Depression.
Overproduction of goods caused a decrease in consumption during the Great Depression.
True
Canada's economy relied on a diverse range of products for its exports.
Canada's economy relied on a diverse range of products for its exports.
False
Black Tuesday refers to the stock market crash that marked the beginning of the Great Depression.
Black Tuesday refers to the stock market crash that marked the beginning of the Great Depression.
True
Dependence on the US market had a minimal impact on the Canadian economy during the Great Depression.
Dependence on the US market had a minimal impact on the Canadian economy during the Great Depression.
Signup and view all the answers
Easy credit and the encouragement of credit purchases contributed to increased financial stability in Canada.
Easy credit and the encouragement of credit purchases contributed to increased financial stability in Canada.
Signup and view all the answers
Study Notes
Causes of the Great Depression
- Overproduction: Agricultural and industrial production exceeded demand, leading to surpluses of goods.
- Over-reliance on primary products: The Canadian economy depended heavily on a few primary products.
- Dependence on the USA: The Canadian economy was closely tied to the US economy, and struggling when the US went into financial trouble
- Excessive Credit Buying: Canadians were encouraged to buy goods on credit.
- Stock Market Crash: The stock market crash of 1929 caused a domino effect, triggering economic problems globally.
- Black Tuesday: The stock market crash of October 29, 1929 (nicknamed "Black Tuesday") was a key catalyst of the ensuing Great Depression.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz explores the key factors that contributed to the Great Depression, specifically focusing on Canada's economic situation. It covers overproduction, reliance on primary products, excessive credit buying, and the impact of the stock market crash. Test your understanding of this critical time in history.
