The Great Depression

Question 1

The Great Depression

Answer 1

The bad times, people lost jobs for a long period of time. People had less money which led to less goods being bought

Question 2

Causes of the Great Depression

Answer 2

• Gambling on stocks
• Overproduction
• Uneven distribution of income
• Shrinking international trade
• Shaky banking and credit

Question 3

Isolationism

Answer 3

The U.S. kept to itself, did not get involved in Europe and other parts of the world

Question 4

Economic Depression

Answer 4

The rise and fall of the business cycle

• Peak ($$$): “Boom Times”, lots of jobs, making good money, easy credit (loans)
• Valley: No money, high unemployment, difficult credit (loans)
• Recession: Downfall of economy
• Recovery: Rising from depression, will take 5-20 years