End of Prosperity

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Black Thursday

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14 Terms

1

Black Thursday

24 October 1929 - the start of the Wall Street Crash, a 'black' day economically

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2

Consumer Goods

Goods used for personal use, not for production, e.g., vacuum cleaner

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3

Great Depression

Prolonged economic downturn post-Wall Street Crash affecting the world

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4

On the Margin

Borrowing money to buy shares

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5

Shares

Financial stakes in a company or business

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6

Stock Market

Market where shares are bought and sold

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7

Overproduction in Agriculture

Excess farming output leading to price fall and farmer losses

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8

Overproduction in Industry

Excessive unsold consumer goods due to low demand

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9

Buying on Credit

Purchasing goods on credit leading to debt accumulation

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10

Commerce

Trade issues due to tariffs affecting surplus goods sales

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11

Property Prices

Rise and fall in house prices causing negative equity

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12

Too Many Small Banks

Unregulated small banks unable to handle financial crises

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13

Over Speculation

Buying shares with borrowed money, expecting profit

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14

Loss of Confidence

Lack of trust leading to sudden price drops

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