What were the main features of the Economic Depression of 1929? ( 3 marks )
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The crash of the banks left many without money
2.) the crash of the economy caused many businesses to close their doors. Without jobs, people lost houses and other property. (My maternal grandfather lost his house but my paternal grandfather was an Electrical Engineer. He worked through the Depression.)
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The crash of the banks left many without money
2.) the crash of the economy caused many businesses to close their doors. Without jobs, people lost houses and other property. (My maternal grandfather lost his house but my paternal grandfather was an Electrical Engineer. He worked through the Depression.)
I hope helpyou
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(1) The stock market crash of 1929 shattered confidence in the American economy, resulting in sharp reductions in spending and investment. (2) Banking panics in the early 1930s caused many banks to fail, decreasing the pool of money available for loans.
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