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Great Depression-JL
5.4-2 Economic Boom and Bust Great Depression
| Question | Answer |
|---|---|
| What caused the Great Depression? | overproduction, declining purchasing power, the stock market crash, unemployment, failed banks and the effects of the Dust Bowl. |
| What was the Great Depression? | was when our country and the world suffered economically. Many people did not have jobs and lost their homes. The Great Depression was during the 1930’s |
| What was the effect of the Great Depression? | Hoovervilles, migrant workers, Hobos, increased unemployment |
| What is a Hooverville? | are shantytowns. They were created when homeless people began to build homes out of scrap lumber and empty boxes in parks and other public spaces. |
| What is a hobo? | a homeless and usually penniless wanderer : tramp |
| What are Migrant workers? | People who move from place to place to find or follow a job. |
| What is the Dust Bowl? | a region that suffers from long droughts and dust storms |
| What is debt? | is money that is owed |
| What is credit? | is when you borrow money |
| What is a bank? | a place where money is saved or borrowed at an interest |
| What caused the bank runs? | many people all at once attempted to withdraw their money from banks |
| What is stock? | a portion of a company that is owned |
| What is deflation? | when prices go down below what the product is worth |
| What is a drought? | A long period with little or no rainfall |
| What is a withdrawal? | when you take money out of a bank |
| What is a deposit? | when you put money in a bank |
| What are dividends? | profits you receive from a sock investment |
| What is the stock market? | a place where people can buy and sell shares of a business |
| Which president took most of the blame or criticism for the Great Depression? | President Herbert Hoover |
| What did banks do in the 1920s that wasn't very smart? | lent money to people who could not pay it back |
| What are shareholders? | people who invest in a stock market |
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jdl6945
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