— The 31st President of the United States (1929–1933). He was president when the stock market crashed and many people lost jobs and savings, so his choices affected how the country tried to respond to the economic crisis.

— Buying something (like stocks) hoping its price will rise quickly so you can sell for a profit. Speculation can be risky because prices can fall instead of rise.

— A sudden, large drop in the value of many stocks (shares of companies) in a short time. A crash can cause people to lose a lot of money and can hurt the whole economy.

— A long period when many people are out of work, businesses close, and money is harder to find. It is more severe and lasts longer than a recession.

— The severe worldwide economic depression that began in 1929 after the stock market crash. Many people lost jobs, homes, and savings, and schools and towns were deeply affected.

— An agreement that lets a person buy something now and pay for it later. Credit can help people buy needed things, but if they cannot pay it back, they can get into trouble.

— Large projects paid for by the government, like building roads, bridges, or schools. Public works create jobs and help communities by improving important services and buildings.

— A group of World War I veterans who marched to Washington, D.C., in 1932 to demand early payment of a bonus promised to them; their protest ended in conflict when the government removed the marchers.

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The Great Depression

Term	Definition
Herbert Hoover	— The 31st President of the United States (1929–1933). He was president when the stock market crashed and many people lost jobs and savings, so his choices affected how the country tried to respond to the economic crisis.
Speculation	— Buying something (like stocks) hoping its price will rise quickly so you can sell for a profit. Speculation can be risky because prices can fall instead of rise.
Stock market crash	— A sudden, large drop in the value of many stocks (shares of companies) in a short time. A crash can cause people to lose a lot of money and can hurt the whole economy.
Economic depression	— A long period when many people are out of work, businesses close, and money is harder to find. It is more severe and lasts longer than a recession.
Great Depression	— The severe worldwide economic depression that began in 1929 after the stock market crash. Many people lost jobs, homes, and savings, and schools and towns were deeply affected.
Credit	— An agreement that lets a person buy something now and pay for it later. Credit can help people buy needed things, but if they cannot pay it back, they can get into trouble.
Public works	— Large projects paid for by the government, like building roads, bridges, or schools. Public works create jobs and help communities by improving important services and buildings.
Bonus Army	— A group of World War I veterans who marched to Washington, D.C., in 1932 to demand early payment of a bonus promised to them; their protest ended in conflict when the government removed the marchers.

Created by: user-1987859

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