The Great Depression: Causes and Effects

These flashcards cover key vocabulary terms related to the Great Depression, including causes, effects, and significant events.

The Great Depression

A severe worldwide economic depression that lasted from 1929 to the late 1930s.

Bull Market

A period of rising stock prices, characterized by investor optimism.

Margin Call

A demand by a broker to an investor to deposit more money to cover possible losses.

Speculation

The practice of buying stocks with the hope that their prices will rise, allowing for quick profit.

Black Tuesday

October 29, 1929, the day the stock market crashed, leading to the Great Depression.

Overproduction

A situation where production exceeds the demand for goods, leading to unsold products.

Hoovervilles

Makeshift shantytowns set up by homeless people during the Great Depression, named after President Hoover.

Dust Bowl

A period of severe dust storms in the 1930s that greatly damaged the ecology and agriculture of the American and Canadian prairies.

Emergency Relief and Construction Act

A 1932 law that authorized loans for relief, marking the first time the federal government provided direct relief funds.

Rugged Individualism

Hoover's belief that individuals should be responsible for their own success and welfare, without government assistance.