Question

Explain the major causes of the economic depression in USA in 1929 in 5 mark

Answer 1

The Great Depression began in August 1929, when the United States economy first went into an economic recession. Although the country spent two months with declining GDP, it was not until the Wall Street Crash in October 1929 that the effects of a declining economy were felt, and a major worldwide economic downturn ensued. The market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth as well as personal advancement. Altogether, there was a general loss of confidence in the economic future. [1]

Answer 2

Answer:

5 Causes of The Great Depression What caused the Great Depression, the worst economic depression in US history? It was not just one factor, but instead a combination of domestic and worldwide