causes of the great depression
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Causes of the Great Depression
Useful Definitions
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Prices dropped on goods which lead to overproduction.
Define Overproduction
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The income disparity between the rich and the poor expanded.
Define Income Disparity
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More people used credit and installment plans to pay for goods.
Define Installment Plan
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New technology forced people out of their jobs.
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The “Boom and Bust” cycle was due for a bust.
Define Boom-and-Bust
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World War I allies could not repay their loans to us.
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A major drought occurred in the middle of the United States.
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…the Great Depression.
…wide spread poverty
…massive dust storms
…stock market crash
The results were……
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Boom-and-Bust: characteristic of a period of economic prosperity followed by a depression.
Installment Plan: a system for paying for an item in fixed amounts at specified intervals.
Overproduction: production in excess of need or stipulated amount.
Income Disparity: the differences in the distribution of wealth and income within or between populations or individuals
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