Great Depression???Group Members : Ken =3 Hoesni :D Simer =| Chevonne :P Mahin =X
crash of the U.S. stock market+ an economic recession+ originated in the U.S.+ soon became worldwide+ lasted for a decade+ massive poverty, hunger, unemployment and politicalunrest = DEPRESSION!!!
Stock market crash Governments on October 29, Banks forced to imposing high 1929 (Black close down tariffs Tuesday) The Great Depression had Severe Droughts BEGAN!
1. Over-Production/ over- Expansion• During the 1920’s, every industry was expanding .• As a result goods were over produced for stock piling.• But, Industrialists forgot the basic economic rule: only make as many items as you can sell.• Wages simply were not high enough to buy all the products made.
4. High Tariffs Trap• Many countries including Canada competed with one another toput on high tariffs on goods coming into their country to protecthome industries.•These restrictive measures greatly reduce the volume ofinternational trade. 5. Credit Buying• Credit buying was becoming popular throughout the 1920’s.• Many people gambled on the stock market .• Unfortunately on October 1929 the stock price crashed down andmany people were wiped out.