Black Thursday — date?
24 October 1929, stock market crash begins
Black Tuesday — date?
29 October 1929, market collapse complete
Stock market crash — effect?
Destroyer of wealth, triggers panic
Buying on margin — mechanism?
Borrowing to buy stocks with small upfront payment
Margin buyer — risk?
Default when prices fall, leading to bankruptcy
Bank run — cause?
Fears of bank failure, depositors withdraw money
Long-term causes — main?
Overproduction and protectionism
Overproduction — result?
Falling prices, farmers in debt
Protectionism — impact?
Reduced international trade, tariffs rise
Laissez-faire banking — failure?
Unregulated banks failed, causing panic
Rising debt — types?
Hire purchase, falling house prices
Immediate effects — unemployment?
Rose from 1.6m to 14m (1929-1933)
Homelessness — during Depression?
Increased, evictions led to Hoovervilles
Relief schemes — during Depression?
Local charities, soup kitchens, no unemployment benefits
Test your knowledge with 14 questions on THE GREAT DEPRESSION PART 1.
1. What happened on Black Thursday in the 1929 stock market crash?
2. Which event is identified as Black Tuesday in the 1929 crash?
Review the complete course in the revision sheet for THE GREAT DEPRESSION PART 1.
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