United States History Unit 7: 1920’s-1930’s Great Depression Bell Work: Recall the different parts of the business cycle. Draw the cycle and label the.

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Presentation transcript:

United States History Unit 7: 1920’s-1930’s Great Depression Bell Work: Recall the different parts of the business cycle. Draw the cycle and label the various parts. What’s the difference between a depression and a recession?

Basic Economics Expansion Bull Contraction Recession Bear Peak Trough- Bust Recovery

Macro Supply and Demand Price Quantity

Macro Supply and Demand Price Quantity Law of demand: As price goes up demand goes down and vice versa.

Macro Supply and Demand Price Quantity Law of supply: as price goes up the quantity supply will increase.

Macro Supply and Demand Price Quantity

Macro Supply and Demand Price Quantity Where supply and demand cross this is price equilibrium

Macro Supply and Demand Price Quantity

Macro Supply and Demand Price Quantity In the 20’s, one of the causes was too much supply and too little demand (too many goods too few takers).

20’s and the Depression Now- with that as a basis, you need to examine the other causes of the depression. Realize that the stock market crash was only the short term effect of the depression.

Graphic Organizer: The Economy in the Late 1920’s , Economy Appears Healthy Economic Danger Signs Herbert Hoover Wonderful Prosperity Everybody Ought To Be Rich Welfare Capitalism Uneven Prosperity Buying on Credit Playing the Stock Market Too Many Goods, Too Little Demand Trouble for Farmers Trouble for Workers