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The Great Depression was due to the combination of several factors. Justify.
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Answered by
4
The required factors were..
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.
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Answered by
5
The Great Depression was due to the combination of the following factors:-
1. Agricultural overproduction was a problem. Agricultural prices fell, exports declined and farmers found it extremely difficult to sell their harvests. In order to maintain their income, farmers had to bring a large amount of produce to the market which worsened the glut in agriculture.
2. It was extremely easy to raise loans from the US when the going was good. However, US overseas lenders panicked at the first sign of depression. They slashed overseas lending which led to different consequences in different places.
3. In England, it led to the collapse of some major banks and in Latin America it worsened the slump in prices of agricultural and industrial raw materials.
5. The US extended import duties which further dealt a huge blow to world trade.
6. The US banks also slashed domestic lending and call back loans at the propect of depression. Farmers could not sell their harvests, businesses collapsed and families were ruined. Many people could not keep the consumer durables they had borrowed during the early 1920s.
7. Finly the US banking system itself collapsed. Unable to collect loans, recover investments, and for many other reasons, the US banks went bankrupt.
1. Agricultural overproduction was a problem. Agricultural prices fell, exports declined and farmers found it extremely difficult to sell their harvests. In order to maintain their income, farmers had to bring a large amount of produce to the market which worsened the glut in agriculture.
2. It was extremely easy to raise loans from the US when the going was good. However, US overseas lenders panicked at the first sign of depression. They slashed overseas lending which led to different consequences in different places.
3. In England, it led to the collapse of some major banks and in Latin America it worsened the slump in prices of agricultural and industrial raw materials.
5. The US extended import duties which further dealt a huge blow to world trade.
6. The US banks also slashed domestic lending and call back loans at the propect of depression. Farmers could not sell their harvests, businesses collapsed and families were ruined. Many people could not keep the consumer durables they had borrowed during the early 1920s.
7. Finly the US banking system itself collapsed. Unable to collect loans, recover investments, and for many other reasons, the US banks went bankrupt.
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