The tortured decade, 1930-1940 - the Great depression - causes of the depression

6 important questions on The tortured decade, 1930-1940 - the Great depression - causes of the depression

What caused the drop in the coal industry?

coal export dropped due to the rise of hydroelectricity and oil as alternatives.

What caused the decline in agriculture?

due to high prices during the war, there was an oversupply, causing prices to plummet. this also affected the growth of industry since there was a smaller demand due to the abundance of agricultural goods.

Why did the crash of the american stock market affect the entire world?

a lot of money was invested in germany, and this money was suddenly withdrawn, causing the german economy to crumble, which affected the markets with which it associated
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How did people react to  the crashing of banks?

they started to withdraw all their money. banks tried to raise interest to prevent this but it wasn't sufficient. furthermore, the increased interest slowed down spending even more.

How did investors respond to the crisis?

they tried to exchange their currency for gold or pounds. the huge demand for pounds and gold caused the british to sever the pound from the gold standard.

How did the crisis affect international trade?

due to the lack of a single standard of exhange and currency restrictions, trade was difficult. countries also levied taxes on import products, impeding trade even further.

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