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The sentence that describes a typical economy found in Latin America during the 1920s and 1930s is "Economies depended on the production of one or two goods."
During those years, while the United States lived an economic boom known as the "Roaring 1920s" and later, the beginning of the Great Depression since October 1929, after the US stock market crash, most of the Latin American countries based their weak economies on the exportation of natural resources and raw materials that were oil, gas, vegetables, fruits, or minerals.
Many companies from the United States and Europe had to invest in opening industrial plants in Latin American in order to exploit these raw materials and export them.
