Economic problems during 1920's US

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    • Coal Business suffered from competition from petroleum.
    • Cotton and woollen textiles faced competition from new synthetics especially rayon.
    • By 1929, 200 corporations controlled nearly half the nation's assets.
    • General Motors, Ford and Chrysler turned out nearly 90% of all American cars. Dominating the market.
    • Agriculture was affected by high foreign tariffs.
    • Agricultural prices fell due to overproduction which was partly caused by thr use of new chemical fertilisers- KEY CAUSE OF THE DEPRESSION.
    • The 27,000 families with the highest annual incomes in 1929 received as much as the

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