The Great Depression was a severe worldwide economic downturn that took place during the 1930s.

Answer 1

It began with the stock market crash of 1929 and led to widespread unemployment, poverty, and economic hardship. The Great Depression was marked by a steep decline in industrial production, a sharp increase in bank failures, and a significant decrease in international trade.

The effects of the Great Depression were felt around the world, with countries in Europe, Asia, and Africa also experiencing economic hardships. In the United States, the unemployment rate reached as high as 25%, and many people lost their homes, businesses, and life savings.

President Franklin D. Roosevelt's administration implemented various programs and initiatives to try to alleviate the effects of the Great Depression, including the New Deal, which aimed to provide relief, recovery, and reform. While these programs had some success in stabilizing the economy, it was not until the start of World War II that the United States fully recovered from the Great Depression.

The Great Depression had a lasting impact on the world economy and influenced economic policy and regulations for decades to come. It also had a profound effect on people's lives and led to significant changes in society, including a greater reliance on government intervention in the economy and increased social welfare programs.