8.4 - The Great Depression Flashcards
(13 cards)
What economic event began in the late 1920s?
The Great Depression
The Great Depression was a severe worldwide economic downturn that started with the collapse of the New York stock exchange in 1929.
What happened to prices for consumer goods and agricultural staples during the late 1920s?
Prices dropped worldwide
This drop in prices was due to a lack of demand as unemployment began to rise.
What caused the stock market crash in 1929?
Loss of confidence among shareholders
Investors began to sell their shares, leading to a rapid decline in prices.
What was the unemployment rate in Australia by 1932?
32 percent
This indicates a significant impact of the Great Depression on the Australian economy.
What was the ‘susso’?
Sustenance payments for the unemployed
The susso was provided to those who were truly destitute and had no other means of support.
Fill in the blank: The Great Depression caused many Australians to lose their _______.
homes and jobs
Many people were forced to live in substandard housing due to unemployment.
What were shanty towns?
Makeshift shelters built from discarded materials
These towns emerged on the edges of major cities as a result of homelessness during the Great Depression.
True or False: The government provided the susso to anyone who applied for it.
False
The susso was only granted to the truly destitute who had been unemployed for a sustained period.
What role did children and women often take on during the Great Depression in Australia?
Main breadwinners
They were often employed because they were cheaper to hire.
What effect did the Great Depression have on the suicide rate among returned soldiers?
Increased dramatically
Many ex-soldiers faced severe hardships and traumas from their wartime experiences.
What was a common form of relief provided by the government during the Great Depression?
Food rations or coupons
These were part of the susso provided to help the unemployed survive.
How many Australians were unemployed shortly after the American economy collapsed in 1929?
Almost 50,000
This figure reflects the immediate impact of the global economic downturn on Australia.
What was a major cause of the Great Depression’s severity in Australia?
Dependence on overseas countries for the economy
Particularly reliance on Great Britain and the impact of the American economy’s collapse.
