General
What caused the Great Depression?
The business boom of the 1920s made people overly confident therefore, they invested their money in risky stocks and deals. In addition, banks made careless loans and soon failed when people could not pay them back. Third, businesses produced more goods than were wanted and they could not sell or make a profit. Lastly, human workers / jobs were becoming replaced by machines and people could not find work.
Advertisement
More from this specialization
- What is a retention bonus?
- What makes you a leader?
- Is there a rule of thumb for office rent or lease per gross income?
- What are the advantages of leaving the allocation of a countrys resources to the price mechanism?
- What are the disadvantages of mixed economy system?
- How do you explain GNI per capita?