Question

Which situation contributed to the global economic crisis during the Great Depression

Answer 1

The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.

By 1933, when the Great Depression reached its lowest point, some 15 million Americans were unemployed and nearly half the country’s banks had failed.

Stocking markets crashing was a huge contribution.

Answer 2

The situation that contributed to the Great Depression is that people in US speculate nore and more in shares due to the rising shares price caused by economic boom.

However when the economy slowed down people started selling their shares and the number increased in such expotential rate that the prices of shares fell sharply causing the Wall Street Crash.

Many banks then went bankrupt, factories shut down and inflation was high,unemployment also occured to many, and this situation is known as the Great Depression.

Hope it helps!