1. What does overproduction mean in the context of the 1920s economy?
2. Why did American agricultural prices begin falling in 1925?
3. What made the speculative rise of American shares especially vulnerable to a downturn?
What is overproduction in economic terms?
Production exceeding consumers' purchasing power, causing supply-demand gap.
What did American industrial growth rely on in the 1920s?
Mass consumption and products like automobiles and appliances.
How did wages compare to productivity growth in 1920s America?
Wages increased more slowly than productivity.
Why did American agricultural prices fall starting in 1925?
European reconstruction reduced demand for American farm products.
What was the effect of falling agricultural prices on American farmers?
It caused widespread indebtedness among farmers.
Why was the speculative rise of American shares amplified in the 1920s?
Investors could buy shares on credit with only 10% coverage.
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