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  • Created by: Jasmin
  • Created on: 29-05-13 13:52
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  • Depression: Consequences of WSC
    • CITIES
      • American factories produced cars and consumer goods
        • Not enough people could afford them
          • Factories couldn't sell all goods
            • Couldn't sell abroad either
              • Factories cut production and cut wages and workforce
      • Farmers produced too much foodd
        • Prices fell
          • Less money coming in
            • Farmers grew more food to make money
              • Prices fell lower
                • Couldn't pay debts or mortgages
                  • Banks took over farms to pay off debt
      • WSC sent prices down
        • Banks which had invested their customers money in shares lost a fortune
          • People lost confidence in banks and took money out
            • Companies bankrupt
              • Factories closed and so higher unemployment


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