FC: The Great Depression By: Brittany Starke
1: What caused the Great Depression? Businesses were having a hard time staying competitive and profitable. Banks started to fail and disappeared along with the money in them. This left people without their life savings. No one was able to pay off debts so they just kept borrowing money, which stressed the banks even more.
3: Who was affected by the Great Depression? Farmers were affected by the Great Depression because there was a drastic fall in agriculture prices. As a result, many farmers lost their farms. Children were also affected by the great depression because their families could not afford clothes or food. They also had to leave school because they were closing down.The rest of the world was also affected by the Great Depression.
4: How Long did the Great Depression Last? The Great Depression lasted for 10 years. It started in 1929 when the stock market crashed and lasted until 1939.
6: What was life like during the Great Depression? Life during the great depression was hard. 9,00 banks went out of business and many people lost their savings. 86,000 businesses failed, and wages were decreased by 60%. The unemployment rate went from 9% to 25% leaving 15 million people jobless. Also many families faced starvation. Money was almost impossible to come with to feed families.
7: How did the Great Depression end? When Roosevelt became president in 1932 he signed into law the "New Deal" that created 42 mew agencies designed to create jobs and provide unemployment insurance. Also World War II helped end the great depression because it created defense-related jobs.