Question

what is meant by the great depression of 1929?explain any three factors responsible for this great depression​

Answer 1

1-the great depression began around 1929

2-it means that the world experienced catastrophic decline in production, employment,incomes and trade.

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Answer 2

$\textbf{Great Depression }$:

The period during which world experienced decline in production, income, employment and trade.

1. Agricultural over production was a problem. As prices slumped, rotting of farm produce also held.

2. US then given loans to many counties.

3. Financial crisis led to panic if US overseas lenders.

4. Banks were bankrupt and were forced to close down in US and Europe as they were unable to recover their investment.

5. All loans were stopped by American capitalists.