- covers USA module 1 (Option AD America, 1920–1973: Opportunity and inequality)
- detailed
- in accordance with grade 9 essay structure
- can be imported into any flashcards apps/websites
- accompanying textbook/ notes available to purchase
- accompanying essay structure available to purch...
What was the WSC?####when the NY stock exchange collapsed
In what ways did the Great Depression affect the economy?####collapse of banks and business
Why did banks collapse?####banks lent billions for people to ‘speculate’ on the Wall Street Stock
Exchange, after it crashed loans couldn’t be repaid and they couldn’t get it back
However, (collapse of banks)####there was some recovery under Roosevelt's New Deal ( banks)
Therefore, (collapse of banks)####the impact of the Depression was devastating for many but not all
banks
Link: (great depression)####rural poverty catalysed urban migration which contributed to urban
poverty
Why did businesses collapse?####profits collapsed
Why were profits lost?####funds lost
What was the result of the collapse of businesses?####many closed/downsized
How many businesses collapsed?####100,000
However, (collapse of businesses)####There was some recovery under Roosevelt's New Deal
(businesses)
Therefore, (collapse of businesses)####The impact of the Depression devastating for many but not
all businesses
How did the Great Depression affect society?####urban and rural poverty
Why was there poverty in urban areas?####rising unemployment
Why was there rising unemployment?####businesses lost profits → reduced workforce and wages
What was the average wage decrease####60%
What was the level of unemployment in 1933?####25% (from 5%)
What was the result of rising unemployment?####poverty
What were the results of poverty in urban areas?####soup kitchens Hoovervilles
Def: Hoovervilles####shanty towns inhabited by evicted/unemployed, dubbed after Pres. Hoover
However, (poverty in urban areas)####some recovery under Roosevelt’s New Deal (poverty)
Therefore it is clear, (poverty in urban areas)####the impact of the Great Depression was
devastating for most but not all people in rural areas
Why was there poverty in rural areas?####farming income fell by 50%
Why did farming income fall?####1920s already hard for farmers due to over production an
tariffssavings lost by bankspoverty → decrease in food sales‘Dust Bowl’ drought → poor crop
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller bethblackett. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £4.99. You're not tied to anything after your purchase.
