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History IGCSE > EXAM REVISION 2020 > Flashcards

EXAM REVISION 2020 Flashcards

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1
Q

What was the Wall Street Crash?

A

When the prices of the shares plummeted drastically after 16 million shares were sold

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2
Q

When was the Wall Street Crash?

A

October 29th 1929 BLACK TUESDAY

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3
Q

Who was involved with the Wall Street Crash?

A

20 million Speculators involved in buying shares on margin and then selling them in hopes of making a profit

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4
Q

How did the Wall Street Crash happen?

A

A massive panic set in which caused people to sell their shares as they began to realize that the prices of the shares were falling. There were more sellers than buyers

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5
Q

Where did WSC happen?

A

Wall Street, New York

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6
Q

Reasons for the WSC

A

Companies tried high pressure advertising $3 billion but with wages not rising and prices not falling demand decreased
Weaknesses were showing- car sales/ construction rates
Many groups relied on the stock market as speculator
Lack of confidence meant price of shares dropped

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7
Q

What were weaknesses of the US economy throughout the 1920s?

A 
Overproduction 
Too many small banks 
Tariff War
Overproduction of consumer goods therefore falling pricces and the market was saturated 
Decline in traditional industries coal mining textiles--> unemployment 
Unequal distribution of wealth 
Laissez faire 
Debt increasing- hire purchase 
International debt
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8
Q

What was the unequal distribution?

A

50% of American families had an income of less than $2000 a year

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9
Q

What happened on 19th october?

A

3,4 Million shares sold

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10
Q

What happened on 20th october?

A

Market closed down

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11
Q

What happened on 21st October?

A

6.1 million shares bought and sold

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12
Q

What happened on 22nd October?

A

Prices rose slightly

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13
Q

What happened on 23rd October?

A

2.6 million shares were sold

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14
Q

What happened on 24th October?

A

BLACK THURSDAY 12,9 million shares were traded- more sellers than buyers

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15
Q

What happened on 25th October?

A

Bankers met and decided to support the market- prices rose

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16
Q

What happened on 28th October?

A

Heavy selling- 9,1 million shares bought and sold

17
Q

What happened on 29th October?

A

BLACK TUESDAY- 16.4 MILLION shares traded- MARKET HAD CRASHED

18
Q

What were the problems of the US banking system?

A

Ordinary people would borrow money from banks lent from banks
Banks would use the deposited money to get involved in speculation
Small banks lended too much
Too many small banks so liquidity is smaller and the capital is smaller
small investors could not pay back money if prices fell so speculators wen bankrupt
banks lent up to 90% of the loan

19
Q

How much did the banks lend speculators?

A

9 billion dollars

20
Q

How much did the number of people owning shares increase by?

A

500%

21
Q

How many banks were failing in the 1920s?

A

500 BANKS

22
Q

How much money was lost from the stock market?

A

14 billion dollars

23
Q

What was the financial effect of the Wall Street Crash?

A 
Rich lost money but remained wealthy
People went bankrupt 
Banks went bankrupt 
Run on banks 
Unemployment 
Farmers could not sell their products 
average farm production declined 
USA international trade fell 
Government spending fell
24
Q

How many banks went bankrupt in 1929?

A

659

25
Q

How many banks went bankrupt in 1931?

A

2294

26
Q

How many banks went bankrupt in 1933?

A

5000

27
Q

How many people were unemployed in the US?

A

14 million 25%

28
Q

How many people were unemployed in Detroit?

A

50%

29
Q

How much did farm wages drop by?

A

60%

30
Q

How much did farm production drop by?

A

40%

31
Q

How much did the USA’s international trade drop by?

A

10 billion to 3 billion

32
Q

How much did the government spending drop by?

A

10 billion to 8.7 billion

33
Q

What were the social impacts of the WSC?

A 
farmers were homeless
Hobos rode around looking for jobs 
crime rate increases 
suicide rate increased 
homeless people lived in hoovervilles 
soup kitchen were a bid support 
malnutrition 
abandonment of children 
rep. government blamed the problems on Europe 
Hoover failed to act quickly
34
Q

What was the suicide rate in 1929?

A

18 per 100,000 people

35
Q

How many people died from malnutrition in 1931?

A

45

36
Q

What was the political impact of the WSC?

A

Strikes and demonstrations- support for communism
Bonus marches
Hoover was the DO nothing president
1932 elections won by FDR democratic

37
Q

How many people were killed in the Bonus Marches?

A

2

38
Q

How many soldiers were there in the Bonus Marcherrs?

A

15,000

History IGCSE (14 decks)

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