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Q.

The beginning of the Great Depression was in ____.


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Detailed Solution

The beginning of the Great Depression was in 1929.
A severe worldwide economic depression began in 1929 and lasted till the mid-1930s. This period was known as the Great Depression. It started after a massive fall in stock prices in the United States. As a result, consumer spending and investment dropped, leading to a catastrophic decline in industrial output and employment. As failing companies laid off workers, the income and trade took a nosedive. The timing and impacts of the depression varied across countries. However, agricultural regions and communities were the worst affected as the fall in agricultural prices was more significant and prolonged when compared to the price of industrial goods.
 
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The beginning of the Great Depression was in ____.