americans experience of the depression

Question 1

what is the great depression?

Answer 1

the name that was given to 1930s America where there were very high rates of unemployment, homelessness + limited production of goods.
the whole world fell into a depression.

Question 2

what were the long term causes of the great depression?

Answer 2

overproduction in industry.
overproduction in agriculture.
abroad trade.
property prices.
falling demand for goods.
too many small banks.

Question 3

what were the short term causes of the great depression?

Answer 3

the stock market.
over-speculation.
loss of confidence and fall in prices.

Question 4

what is the wall street crash?

Answer 4

the wall street crash was when the stock market in America crashed, plunging America into a Great Depression.

Question 5

what were the results of the wall street crash?

Answer 5

shareholders and businesses lost millions of dollars.
5000 banks went out of business.
industrial production decreased by 45%.
13 million unemployed.
recalled European loans = world financial crisis.
1932: biggest economic depression in world history.

Question 6

what groups were affected by the wall street crash?

Answer 6

factory owners (underconsumption = factories failing and closing down, lost their jobs).
factory workers ( factories closing meant workers lost their jobs, affected businesses like restaurants because no workers could afford to eat there).
ordinary shareholders (investors lost money as the stock crashed, tried to pay off bank loans with items such as cars, many couldn't pay for house/rent so faced homelessness).
bank managers (loans by people were not paid off forcing banks to close, meaning jobs were lost). 
farmers (money borrowed for machinery couldn't be paid back, would have to lose farm stack workers).