analyses the causes of decline in demand and fall in prices that led to the economic Depression
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An economic depression is primarily caused by worsening consumer confidence that leads to a decrease in demand, eventually resulting in companies going out of business. When consumers stop buying products and paying for services, companies need to make budget cuts, including employing fewer workers.
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Causes of an economic depression
Stock market crash. The stock market. ...
Decrease in manufacturing orders. A business flourishes on the demand for its products and services. ...
Control of prices and wages. ...
Deflation. ...
Oil price hikes. ...
Loss of consumer confidence.
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