The Great Depression was a time of poverty and hopelessness caused by many different events. How would you feel if you couldn’t go out and buy something you really want because you don’t have any money? I personally would feel really angry if I couldn’t buy something I really wanted. The Great Depression is a very good example of why people couldn’t do this. The main cause of the Great Depression is mainly economics(Background Essay). The law of supply and demand according to the Background Essay, is that if the supply of goods increase, and if the consumer demand stays the same, then the prices will drop. The Great Depression was very terrible in relation to other events. Such as the Stock Market Crash, which happened prior to. There are many contributing
…show more content…
This factor relates to contributing factors of the great depression because investors would be so excited that they get to invest on something that they make poor decisions. You put your money down on something you have no idea about, and your money can get taken away or you win something and keep the money. According to Document 5, Speculation is also a main cause of the Great Depression. It is clear from evidence in this paragraph that Speculation was one of the main contributing factors of the great depression. Another contributing factor to the Great Depression is The U.S. Family Income Distribution. The U.S. Family Income Distribution calculates what percentage of people earn an annual income from $1,000 and lower through $10,000+. The graph in Document 9 states that 21% of the U.S. earns under $1,000, 21% earns $1,000-1,500, 18% earns $1,500-$2,000, 32% earns $2,000-$5,000, 6% earns $5,000-$10,000, and 2% earns over $10,000 in the year of 1929. The majority of the United States earns $2,000-$5,000 per year. According to the document, “The wealthiest 5% of the US population received about 33% of the nation’s personal income.” This means that they
This factor relates to contributing factors of the great depression because investors would be so excited that they get to invest on something that they make poor decisions. You put your money down on something you have no idea about, and your money can get taken away or you win something and keep the money. According to Document 5, Speculation is also a main cause of the Great Depression. It is clear from evidence in this paragraph that Speculation was one of the main contributing factors of the great depression. Another contributing factor to the Great Depression is The U.S. Family Income Distribution. The U.S. Family Income Distribution calculates what percentage of people earn an annual income from $1,000 and lower through $10,000+. The graph in Document 9 states that 21% of the U.S. earns under $1,000, 21% earns $1,000-1,500, 18% earns $1,500-$2,000, 32% earns $2,000-$5,000, 6% earns $5,000-$10,000, and 2% earns over $10,000 in the year of 1929. The majority of the United States earns $2,000-$5,000 per year. According to the document, “The wealthiest 5% of the US population received about 33% of the nation’s personal income.” This means that they