Question 21 - Social Science CBSE Class 10 Sample Paper for 2023 Boards - Solutions to CBSE Sample Paper - Social Science Class 10 - Social Science Class 10

Analyse any two factors that were responsible for the Great Depression in America during 1929.

Answer:

Explanation

• Overproduction in agriculture was a major issue
• US overseas loans amounted to over $ 1 billion in the first half of 1928. 
• The stock market crisis had an impact on bank failure.
• Increase in US import duty.

Answer to be written in Exam

 Factors responsible for the great depression in America during 1929 are:

• Post-world War economy of the world was fragile. Overproduction in agriculture was a major issue in the world. It was made worse by falling agricultural prices.
• US overseas loans amounted to over $ 1 billion in the first half of 1928. Countries that heavily rely on US financing were currently facing a serious crisis . The withdrawal of US loans affected much of the rest of the world.
• The stock market crisis had an impact on bank failure , which caused more customers to withdraw their savings. Banks got bankrupt and shut down in Europe
• The US attempted to defend its economy during the Great Depression by raising import duties.

* Write any two points.