Describe the effect of the Great Depression on the world? Who was the worst affected by this depression?
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Break down the answer into three points. First point should briefly explain economic crises such as decline in income, trade and demand and supply chain that was impacted. The next two points deal with agricultural decline and unemployment.
The Great Depression began around 1929 and lasted till the mid-1930s. During this period:
There were steep declines in production, employment, incomes and trade.
Agricultural regions and communities were worst affected due to the fall of agricultural prices and ruin of urban centres.
Unemployment created further poverty in the society and people were living in destitute conditions.