stock exchange - the place where stocks are bought and sold, Stock Market Crash 1929 - the most devastating stock market crash in US history - investors traded 16 million shares in 1 day triggering The Great Depression, Immediate cause of Great Depression - Stock Market Crash 1929, Long-term cause of great Depression - rapid buying of stocks on margin, Consumer Debt - owing money, Tariff - raised price of imports so that only wealthy people could afford; decreased amount of exported goods, Over-Production - too many products were made and not enough people could buy them, Laissez-faire - the government has little involvement or control over the economy; Hoover believed in this and felt people should "help themselves" out of economic hardship, Public Works Administration - 1933, FDR created it, reduced unemployment by hiring the unemployed to build new public buildings, roads, bridges, and subways., Black Tuesday - On this date, share prices on the New York Stock Exchange completely collapsed, becoming a pivotal factor in the emergence of the Great Depression., Black Thursday - On this date, a then-record number of shares were traded on the New York Stock Exchange by panicked investors, marking the onset of the stock market crash that precipitated the Great Depression., Great Depression - worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced, Buying on margin - when you borrow MOST of the money to buy stocks, Supply - how much of a product that is available, Demand - how many people want the product, Bank failure - Banks leant money to brokers and people buying stocks. No one could pay them back and the banks closed their doors, Herbert Hoover - President of US 1929-1933, Hooverville - a shantytown built by unemployed and destitute people during the Depression of the early 1930s, Bonus Army - 1932 WWI Vets went to Washington, DC demanding their bonus payments. They received them in 1936., Work Relief - work on government projects in exchange for relief payments,

Jack- Great Depression (Stock exchange-Work Relief)

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