History 2.0 Flashcards
GDP
The value of all goods and services produced in a country during a year
Sum of GDP
C - consumer spending G - governement I - investments by businesses X - exported goods M - imported goods
GDP = C + G + I + X + M
Prohibition
The act of forbidding something. In the case of Canada, it was alcohol.
Pros and Cons of Prohibition
Pros:
- Less immoral behaviour
- Less poverty
- Less domestic violence
- Healthier people
- Better use of resources - grains to make bread instead of alcohol
Cons:
-Moonshiners/bootleggers
- Emergence of illegal drinking placing speakeasies/blind pigs
Crime will go up
Stock Market Crash
- October 29, 1929
- Many people lost their entire savings
Government during the Great depression
- Prime Minister William Mackenzie (1926-1930)
- Prime Minsiter R.B. Bennett (1930-1935)
Bennett buggy
a car that was pulled by a horse. Gas prices were high am I rite???
Bennett blanket
Blanket made out of newspapers.
Relief for the Poor
- Soup kitchens paid for by charities - not the government
- They did provide basic relief
The Dust Bowl
- Western Canada was hit with a drought
- Crops could not be grown and many farmers lost their farms - they simply walked away
6 causes of The Great Depression
- Overproduction
- Canada’s dependence on primary products
- Canada’s dependence on US
- Tarifs
- Too much debt
- Stock Market Speculation
Overproduction
Factories made too many goods and there wasn’t enough demand. Production was cut and employees were fired
Canada’s dependence on primary products
When production dropped and fewer products were needed, Canada didn’t have something else to fall back. All their eggs were in one basket. (minerals, fisheries, forestries, agriculture)
Canada’s Dependence on the United States
About 80% of Canada’s exports were sold to the United States. US economy was also affected, dragging Canada down with them.
Too much debt
people were encouraged to buy lots of goods and follow the buy now, pay later system. And when goods can’t be paid for, they’re taken back, adding on to the pile.
