THE GREAT DEPRESSION 1929 1940
THE DUST BOWL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Prices declined and economic growth slowed.
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Increased production resulted in record profits.
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New workers were hired to meet production demands.
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Export markets expanded to send these products overseas.
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Detailed explanation-1: -Overproduction of agricultural products like cotton and oil and gas led to a drop in prices, which led to smaller profits or no profit. – Without a profit, businesses during the Great Depression closed and workers lost their jobs.
Detailed explanation-2: -Across the state, agriculture and the new industries of oil and lumber fell victim to the growing economic depression. The state’s economy was further crippled by the devastating effects of the Dust Bowl. In the second half of the 1930s, as the Depression wore on, a major drought devastated the southern plains.
Detailed explanation-3: -Between 1918 and 1926, the Texas plains increased cotton production from 50, 588 bales to more than 1.1 million bales. By the 1930s, overproduction of cotton had dropped prices from 18 cents a pound to six cents and the growth of the cattle industry caused the land to be even more over used.
Detailed explanation-4: -A main cause of the Great Depression was overproduction. Factories and farms were producing more goods than the people could afford to buy. As a result, prices fell, factories closed and workers were laid off.