causes of the great depression Flashcards
what were 4 causes of the Great Depression?
the stock market crash
too much buying on credit
Canada’s dependence on a few resources
overproduction/ overexpansion
the stock market crash
when was Black Tuesday?
October 29th, 1929
the stock market crash
what happened on Black Tuesday?
stocks were sold as prices dropped rapidly
the stock market crash
what did rising unemployment and closure of companies lead to?
high bankruptcy rates
too much buying on credit
“buy ___ pay _____”
now / later
too much buying on credit
what were some things that were bought?
houses, farm equipment, mills, cars, food, railways, new inventions
too much buying on credit
what did too much buying on credit lead to?
layoffs, wage cuts, high unemployment
Canada’s dependence on a few resources
what resources did Canada depend on?
wheat, lumber, pulp and paper, fish, minerals
Canada’s dependence on a few resources
what did the dropping of product prices lead to?
international competition
overproduction/ overexpansion
new inventions were being mass produced but _________
people weren’t buying
