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The Great Depression
The Great Depression test study guide
| Question | Answer |
|---|---|
| what was the economy/society like in the 1920's? what were some new gadgets being bought? what was leisure like? what happened with credit? what happened to the middle class? | society was very prosperous during the 1920's everyone was buying items such as vacuum cleaners and washing machines and electricity. everyone was buying these items on credit meaning they got the item and payed for it over time plus interest. |
| what was the economy/society like in the 1920's? what were some new gadgets being bought? what was leisure like? what happened with credit? what happened to the middle class? continued | the middle class grew significantly |
| what happened to the stock market during the 1920s (before Oct 1929)? why were so many people able to invest money? why were stock prices soaring? | the stock market's prices were only going up until Oct 1929 at which point it started to crash. people were able to invest so much money because banks were unusually willing to loan money to people. stock prices were soaring because people were getting... |
| what happened to the stock market during the 1920s (before Oct 1929)? why were so many people able to invest money? why were stock prices soaring? continued | loans specifically for investing in the stock market that were to be paid off when you sold the stock with interest which caused stock prices to rise because more people wanted to invest in stock. |
| explain how and why the crash occurred - you should mention demand, panic and inexperience | Investors generally had very little knowledge of the stock market – they expected the value of stocks to keep rising no matter what. |
| explain how and why the crash occurred - you should mention demand, panic and inexperience continued | made enough on the stocks and began to sell off their shares. Fewer people now wanted the stocks, so their prices fell. This triggered a snowball effect – as more people wanted to sell, stock value dropped so more people... |
| explain how and why the crash occurred - you should mention demand, panic and inexperience continued continued | wanted to sell, so value dropped, so more sold…etc…etc… |
| explain how and why the crash occurred - you should mention demand, panic and inexperience continued continued continued | everyone was panicking because they were afraid. |
Created by:
hgrady
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