As per the NCERT Glossary, the Great Depression of the 1930s started with:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → the stock market crash in New York in 1929
The Great Depression of the 1930s started with the stock market crash in New York in 1929. Output in the developed countries then fell and unemployment rose by huge amounts.
NCERT (2026-27): Glossary: “Great Depression – The time period of 1930s (started with the stock market crash in New York in 1929) which saw the output in the developed countries fall and unemployment rise by huge amounts.” “1.1 Emergence of Macroeconomics … However, the Great Depression of 1929 and the subsequent years saw the output and employment levels in the countries of Europe and North America fall by huge amounts. It affected other countries of the world as well. Demand for goods in the market was low, many factories were lying idle, workers were thrown out of jobs. …” |