explain the cause of great depression
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Too many people speculating on the stock market to try and make money quickly. Black Tuesday – the stock market crash that happened on October 29, 1929 is considered to be one of the main causes of the depression. Stockholders lost over 40 billion dollars, which had a devastating effect on the world economy.
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The major causes are--
Efficient machinery led to overproduction and low demand.
Uneven distribution led to economic problems.
Worker's wages did not increase to keep up with quick production.
Sales decreased and workers were laid off. Increased unemployment.
Using credit and installment plans hurt people and left them with little money to purchase other things.
High taxes on imports.
Low interest rates encouraged people and banks to make risky loans.
Efficient machinery led to overproduction and low demand.
Uneven distribution led to economic problems.
Worker's wages did not increase to keep up with quick production.
Sales decreased and workers were laid off. Increased unemployment.
Using credit and installment plans hurt people and left them with little money to purchase other things.
High taxes on imports.
Low interest rates encouraged people and banks to make risky loans.
WRONG
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