examine economic factors that resulted in the Great Depression
Great Depression - causes
Unfortunatly, there were many reasons that the Great depression occured. The first reason were the people. They could not repay the money that they had borrowed to the banks. Because of this, the banks and business were being hurt because they did not have enough money anymore to let borrow money anymore. In a thing known as downsizing , business had to lay-off workers and banks collapsed due to loss of money. Business had overproduced their products and when consumers stopped buying, they had to close or lay-off more workers. The U.S. and other nations had high tariffs on goods coming into their nations. This prohibbited consumers from other countries to buy american goods to help out American history. As you can see, one event led to another and it was like a domino effect as banks and business closed. America was thrust into the depression. The stock market crashed on October 29, 1929. This day became known as the great depression.
Unfortunatly, there were many reasons that the Great depression occured. The first reason were the people. They could not repay the money that they had borrowed to the banks. Because of this, the banks and business were being hurt because they did not have enough money anymore to let borrow money anymore. In a thing known as downsizing , business had to lay-off workers and banks collapsed due to loss of money. Business had overproduced their products and when consumers stopped buying, they had to close or lay-off more workers. The U.S. and other nations had high tariffs on goods coming into their nations. This prohibbited consumers from other countries to buy american goods to help out American history. As you can see, one event led to another and it was like a domino effect as banks and business closed. America was thrust into the depression. The stock market crashed on October 29, 1929. This day became known as the great depression.