Podcast
Questions and Answers
What was one significant economic condition during the Great Depression?
What was one significant economic condition during the Great Depression?
- Mass unemployment (correct)
- Surge in employment rates
- Increased government spending
- Higher stock prices
Which of these contributed to the economic instability leading to the Great Depression?
Which of these contributed to the economic instability leading to the Great Depression?
- High levels of business confidence
- Over-reliance on credit (correct)
- Strong foundations of economic prosperity
- Low taxation on imports
What does buying something on credit allow a customer to do?
What does buying something on credit allow a customer to do?
- Buy items only if they have cash
- Invest money in the stock market
- Obtain an item and pay immediately
- Acquire an item with delayed payment (correct)
What does the term 'speculator' refer to in the context of the stock market?
What does the term 'speculator' refer to in the context of the stock market?
How did the political ideology of Republicans during this time typically view government involvement in business?
How did the political ideology of Republicans during this time typically view government involvement in business?
What major event occurred in September and October 1929 that greatly contributed to the Great Depression?
What major event occurred in September and October 1929 that greatly contributed to the Great Depression?
What does the term 'shareholder' mean?
What does the term 'shareholder' mean?
What effect did the Great Depression have on people's possessions?
What effect did the Great Depression have on people's possessions?
Which economic factor contributed to the erosion of confidence leading to the Great Depression?
Which economic factor contributed to the erosion of confidence leading to the Great Depression?
During the Great Depression, what was a prevalent economic condition aside from unemployment?
During the Great Depression, what was a prevalent economic condition aside from unemployment?
Flashcards
Great Depression
Great Depression
A period of severe economic decline marked by high unemployment, poverty, and hardship.
Roaring Twenties
Roaring Twenties
The period of economic growth in the 1920s, characterized by widespread prosperity and technological advancements.
Laissez-faire Economics
Laissez-faire Economics
A system where individuals and businesses are largely free from government interference.
Stock Market
Stock Market
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Broker
Broker
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Speculation
Speculation
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Loss of Confidence
Loss of Confidence
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Stock Market Crash
Stock Market Crash
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Margin Buying
Margin Buying
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Shareholders
Shareholders
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Study Notes
Causes of the Great Depression
- The Great Depression was the worst economic downturn in US history, characterized by mass unemployment, hardship, and increased poverty.
- While the 1920s saw a US economic boom, the prosperity was not soundly based.
- Several factors contributed to the Depression.
- Decreasing business profits, diminishing shareholder and speculator confidence, and the 1929 stock market crash were key elements.
- Share prices plummeted in September and October 1929, triggering a crash.
- People borrowed money to buy shares, and those who lost money in the crash had to sell possessions.
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