If you fell behind in your monthly payments on the item the person who sold you the item had the right to get it back. When the depression came people couldn’t afford to make their payments and lost everything.
How did buying credit affect people living in the Depression?
200
By 1933, 30% of the labor force was jobless, many people had to rely on government relief, children had to drop out of school to help support their families.
How were the people affected by the Depression?
300
Canada’s economy soared but as the depression hit other countries the demand for Canada’s products fell. Therefore Canada’s economy fell.
How did Canada producing large amounts of few products aid the Depression?
300
The army provided jobs and the demand for ammunition and supplies to fight the war-boosted Canada’s industries.
How did WW2 affect Canada's recovery?
400
Large stocks of products were being piled up in warehouses. Factory workers then had to be fired or lay-off. This meant families had even less money to spend on goods.
How did over production and over expansion aid the depression?
400
They were less affected because Ontario had a diversified industrial economics, which allowed Ontario to continue to work, causing there to be less unemployment.
How was Ontario affected?
500
Many people in the 1920’s thought that buying stocks in the stock market was an easy way to get rich. With the stock market crash, the stock exchanges dropped more than 50%.
How did credit buying of stocks affect people living in the Depression?
500
Prices fell and business activity fell which caused massive unemployment.