Question

STOCK MARKET CRASHDROUGHT
People’s spending habits changed as they
focused __________________ things
rather than on saving.
_________________________ also
became more common, which allowed
people to buy things right away rather than
having to save to afford them.
A _____________ soon followed the boll
weevil catastrophe from 1924 to 1927.
Without _____________, farmers could not
grow as much as they normally did.
The drought and boll weevil forced many of
Georgia’s farmers to_____________
__________.
Meanwhile, industries and businesses were
_____________________________ could buy.
Farmers were also producing more than
________________________.
With WWI over, prices for ___________________,
making it hard for farmers to earn a profit.
Many farmers had to ______________________
to buy new equipment and grow more crops.
During the early 1900s, there was _____
_____________ protecting bank deposits.
After the stock market crashed, people
rushed to banks to _________________.
The banks quickly __________________,
which caused many people to lose their
entire life savings.
During the 1920s, people often paid for part of a
stock and then_________________ from
banks to buy the rest.
In the 1920s, millions of Americans bought
_______________________.
When stocks began to drop to their true worth,
________________ and sold their stocks for
much cheaper prices.
This caused the stock _________________,
and on October 29th, 1929, the stock market
crashed.
This is known as “_________________” and
marked the beginning of the Great Depression.

Answer 1

People’s spending habits changed as they focused on buying consumer goods rather than on saving. Buying on credit and installment plans also became more common, which allowed people to buy things right away rather than having to save to afford them. A drought soon followed the boll weevil catastrophe from 1924 to 1927. Without sufficient rainfall, farmers could not grow as much as they normally did. The drought and boll weevil forced many of Georgia’s farmers to leave farming. Meanwhile, industries and businesses were producing more goods than people could buy. Farmers were also producing more than they could sell. With WWI over, prices for cotton and other farm products fell, making it hard for farmers to earn a profit. Many farmers had to borrow money to buy new equipment and grow more crops. During the early 1900s, there was no federal insurance protecting bank deposits. After the stock market crashed, people rushed to banks to withdraw their savings. The banks quickly failed, which caused many people to lose their entire life savings. During the 1920s, people often paid for part of a stock and then borrowed the rest from banks. In the 1920s, millions of Americans bought stocks on margin. When stocks began to drop to their true worth, investors panicked and sold their stocks for much cheaper prices. This caused the stock market to fall, and on October 29th, 1929, the stock market crashed. This is known as "Black Tuesday" and marked the beginning of the Great Depression.