Binance Academy
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What was the Great Depression?
Key takeaways
The Great Depression was a global economic crisis that began in 1929 and lasted throughout the 1930s. It led to a significant decline in employment, industrial production, and quality of life worldwide.
The crisis began with the stock market crash of 1929 and worsened with bank failures, reduced trade, and declining consumer demand.
Government interventions, such as the New Deal in the United States and wartime production efforts, contributed to the recovery that eventually followed.
The Great Depression was a global economic crisis that began in 1929 and lasted throughout the 1930s. It led to a significant decline in employment, industrial production, and quality of life worldwide.
The crisis began with the stock market crash of 1929 and worsened with bank failures, reduced trade, and declining consumer demand.
Government interventions, such as the New Deal in the United States and wartime production efforts, contributed to the recovery that eventually followed.
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