Question

. if somebody had done well saving their money, was he/she immune to the problems of the great depression? explain your thinking.

Answer 1

If somebody had done well saving their money, he/she was not immune to the problems of the Great Depression as many families did without necessities milk or meat, neglected medical and dental care to save money.

What major factors contributed to the Great Depression?

The prolonged period of the economy's downturn following the 1929 stock market crash is referred to as the "Great Depression." High unemployment rates, declining stock prices, and decreased demand for raw resources for production were all effects of this time period.

After the 1929 stock market catastrophe, which paralyzed Wall Street and destroyed millions of investors, it started. The following few years saw a reduction in consumer spending and investment, which led to a sharp decline in industrial output and employment as faltering businesses laid off people.

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