Home> Class-12> Economics >Q 64 |
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Que : 64. Why and when did the world great depression happen? |
Answer: The great depression of 1929 was a severe depression and a total shutdown of the economy as there was no production, unemployment which effected the overall economy of world. the economic output was slowed down to 25% and there the unemployment rate reached to 25% . there reasons considered for this depression are - i) growing inequalities in income ii) increase in the debt iii) losses in the stock market |