Which group experienced an early depression in the 1920s?
A. Farmers
B. Bank owners
C. Industrial workers
D. Stock market investors
Answer (3)
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The Great Depression is considered the worst economic shutdown in the history of the United States. This economic decline started in the year 1929 and went on to the later stages of the 1930s. The Crash of the Stock Market was the reason which brought this great depression. By the year 1933, there were around 25% of people in the United States were unemployed and the majority of banks in the United States went out of Business.
It was the farmers who were the most affected by this economic shutdown caused by the Great depression . Prices of their crops were falling year after year and states of Texas, Oklahoma and Kansas suffered severe drought which also caused dust storms. In the initial stages of the 1930s, the majority of farmers went bankrupt and because of that, they were not able to pay their loans and lost their farms. Corns that were grown by farmers became so cheap that instead of coal, people started burning corn to make their food. Many farmers even formed farmers Union but all went in vain as it did not have any effect on Prices .
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**Answer details: **
**Grade – High School **
**Subject – History **
**Chapter – Early depression **
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Keywords –Economical depression, Great Depression, The United States, Farmers, Crops, Corns, Coal, Texas, Oklahoma, Kansas.
During the 1920s, **farmers **in the United States experienced an early depression . Therefore, the correct option is (a).
The agricultural sector faced significant challenges during this period, including overproduction, falling prices, and high** debt** levels. The prosperity of the 1920s, known as the " Roaring Twenties ," largely bypassed farmers who were grappling with declining incomes and agricultural hardships. The agricultural depression was one of the factors that contributed to the overall economic downturn and the onset of the Great Depression in the 1930s.
Thus, the ideal selection is option (a).
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Farmers experienced an early depression in the 1920s due to overproduction, falling prices, and high debt levels. This downturn began after World War I and severely impacted agricultural regions across the U.S. The correct answer is (A) Farmers.
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