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Level 412

Great Depression in the Americas - Causes


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The Stock Market Crash
- The Stock market crashed on October 29,1929
Lack of Diversification
Countries over-relied on too few industries...
economy prospered
1920'S Roaring Economy
buying on margin
practice that allows people to buy stock with a down payment of a portion of the value
Buying on Credit
-With people trying to borrow money to cover the value of their stock, interest rates soared
Declining Exports
-In the late 1920s European demand for American goods began to decline
Level 413