THE GREAT DEPRESSION PART 1

Revision sheet excerpt

Course Outline

  1. Stock market crash: Black Thursday and Tuesday
  2. Buying on margin and stock market collapse
  3. Long-term causes: overproduction and protectionism
  4. Laissez-faire banking failures and rising debt
  5. Immediate effects: unemployment, wage cuts and starvation
  6. Homelessness, evictions and Hoovervilles
  7. Charity and relief schemes during the Depression

1. Stock market crash: Black Thursday and Tuesday

Key Concepts & Definitions

  • Black Thursday : Black Thursday is the first major day of the 1929 stock market crash when selling accelerated and prices collapsed.
  • Black Tuesday : Black Tuesday is the 29 October 1929 day when the stock market collapse became complete and the economy’s collapse was finished.
  • Stock market crash : A stock market crash is a sudden collapse in share prices that destroys investors’ wealth and triggers wider financial panic.
  • Speculation : Speculation is buying and selling shares hoping their value will rise so they can be sold for profit.

Essential Points

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Quiz preview

1. What happened on Black Thursday in the 1929 stock market crash?

2. Which event is identified as Black Tuesday in the 1929 crash?

3. What does buying on margin mean?

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Flashcards preview

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

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The revision sheet covers the essential concepts of THE GREAT DEPRESSION PART 1. It is organized by topic to facilitate learning and memorization, with key definitions, explanations and summaries.

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The quiz contains 14 multiple-choice questions with detailed corrections and explanations for each answer. Ideal for testing your knowledge and identifying gaps.

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Revizly offers 14 interactive flashcards on THE GREAT DEPRESSION PART 1. Each card presents a question on the front and the answer on the back, enabling active and effective revision based on spaced repetition.

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