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Q.

Which were the factors responsible for the depression of 1929?


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a

Stock market crash

b

Bank failures

c

Drought

d

All of the above 

answer is D.

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Detailed Solution

The stock market crash, bank failures, and drought were the factors responsible for the depression of 1929. The Great Depression started in 1929 and was one of the most tragic economic phenomena in America and world history. It destroyed the economy, collapsed the market, and caused high unemployment. During the recession, the stock market collapsed, affecting all sectors of the economy. All markets, including banks, felt the stock market crash. Nearly 700 banks collapsed which caused the Great Depression.
 
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