Great Depression Vocabulary

What does 'buying on credit' mean?

• Purchasing goods with cash

• Taking out loans to purchase goods

• Saving money before buying goods

• Exchanging goods without money

What is 'conservation'?

• Destroying natural resources

• Using natural resources with care

• Ignoring the use of natural resources

• Using natural resources wastefully

What does 'deposit' refer to?

• Lending money to someone

• Adding money to an account

• Withdrawing money from an account

• Borrowing money from a bank

Define 'depression' in economic terms.

• A short period of economic growth

• A longer and worse period of economic hardship

• A brief period of economic decline

• A stable economic period

What is a 'drought'?

• A long period of excessive rainfall

• A short absence of rainfall

• A long absence of rainfall

• A moderate level of rainfall

Who is an 'economist'?

• A person who studies the movement of money and goods

• A person who studies plants

• A person who studies animals

• A person who studies rocks

What were 'Hoovervilles'?

• Fictional towns in novels

• Areas known for their economic prosperity

• Shanty towns where people who lost their homes congregated

• Luxury towns during the Great Depression

What is 'interest'?

• A fixed deposit in a bank

• A share in a company

• Money charged on borrowed money

• Disinterest in financial matters

What does 'labor' refer to?

• Machinery used in factories

• Work

• Unemployment benefits

• A type of investment

What is a 'loan'?

• Money borrowed that someone promises to pay back

• Money saved in a bank

• A gift of money that does not need to be returned

• A financial penalty