What is the great Depression and how did it happen
Answer (1)
The Great Depression was a severe worldwide economic crisis that occurred during the late 1920s and 1930s, beginning in the United States after the stock market crash of October 1929. Causes: Some main causes included the over-speculation on stocks, bank failures, and declining international trade.Key Events:- The stock market crash on October 29, 1929 ("Black Tuesday") triggered widespread panic. - Unemployment soared, reaching about 25% in the U.S. by 1933. - Bank failures and farm foreclosures became common.Effects:- The crisis led to massive unemployment, poverty, and homelessness in many countries. - It had global impacts, causing economic hardship and political changes worldwide. - Famous figures such as President Franklin D. Roosevelt responded with programs like the New Deal to help the recovery.
