The Great Depression.1

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The Great Depression.1

  1. 1. The Great Depression An Economic Disaster
  2. 2. The Stock Market <ul><li>Stock: a portion of ownership in a corporation or company </li></ul><ul><li>Stock Market: the organized trading and selling of stocks </li></ul>
  3. 3. Stock Terms <ul><li>Gross Domestic Product (GDP): the production of all final goods and services within a country </li></ul><ul><li>Depression: a period of time with severely declining economic activity across the economy </li></ul><ul><li>Unemployment rate: the percentage of the labor force who are unemployed </li></ul>
  4. 4. Black Tuesday October 29, 1929 <ul><li>The day of the most famous stock market crash in American history, considered the beginning of the Great Depression </li></ul><ul><li>Share prices collapse on the </li></ul><ul><li>New York Stock Exchange </li></ul><ul><li>Investors frantically try to </li></ul><ul><li>sell stocks </li></ul><ul><li>Prices continued to fall </li></ul><ul><li>at an unprecedented amount </li></ul>
  5. 5. Long Term Causes <ul><li>An old and decaying industrial base </li></ul><ul><li>A crisis in the farm sector </li></ul><ul><li>The availability of easy credit </li></ul><ul><li> (people buying on speculation and margin) </li></ul><ul><li>An unequal distribution of income </li></ul>
  6. 6. Aftermath <ul><li>Many American panic and withdraw money from banks, forcing them to close. </li></ul><ul><li>Nation’s GDP declines rapidly. </li></ul><ul><li>Millions of workers loose their jobs. </li></ul><ul><li>(unemployment goes from 3% in 1929 to 25% by 1933) </li></ul>

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