Review of Economics Leading to the Great Depression

Question 1

Factor: over____and over____ (____ ____ ____).
Outcome: What was being built? What was happening with employment? Why couldn’t people support products being made?

Answer 1

Over production and over expansion (stock, pilling, goods).
Outcome: New buildings, factories; people laid off so no extra spending; low wages people could not support all of the products being made.

Question 2

Factor:____of Primary____
Outcome: What were some staple goods? What places were hit hardest? Why did prices drop?

Answer 2

Dependence of Primary Products.
Outcome: Staple goods, fish minerals, pulp, paper, grain products; Fish, grain products especially decreased in exports (Prairie’s and maritimes), supply goes up and demand goes down. Other countries stopped getting exports from Canada.

Question 3

Factor: Dependence of ___
Outcome: What percent of imports to___and what percent of exports is from___? Who did Canada borrow money from? What went up and what went down?

Answer 3

Dependence of U.S
Outcome: 65% of imports to U.S and 40% of exports from U.S; Canada borrowed money from the U.S; Depression hits the U.S, U.S stopped getting exports from Canada.

Question 4

Factor: High____-(___of imports)
Outcome: What kind of___were created in many countries in order for people to do what? What did these things do?

Answer 4

High Tarrifs- (taxes of imports)
Outcome: Protective tariffs were created in many countries in order for their people to buy from their own country; High tariffs choked off Internation Trade.

Question 5

Factor: Buy on___
Outcome: What were Canadians buying on ___? What happened because of this and what did this drive up? What did borrowing money lead to?

Answer 5

Buy on Credit
Outcome: Canadians were buying things (houses, cars, etc.) on credit; they could not pay them back, this drowve up the prices of the products; Borrowing money led to decrease value in stocks.

Question 6

Factor:___on the___
Outcome: What Tuesday? When did this take place? What happened? What was the single event that began the Great Depression?

Answer 6

Speculation on the Market

Outcome: “Black Tuesday” October 29, 1929, Stock Market crashed; Single event that began the Great Depression