Explain the Great Depression

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The year 1929 was called the year of Great Depression which lasted till mid-1980s. Production, employment, income and trade declined all over the world due to which the agricultural regions and communities were worst affected because the prices of the agricultural products declined sharply and for long period than the Price fall in the industrial goods. The two main reasons for this Great Depression were the overproduction in the US and the withdrawal of US loans which caused the failure of some major banks and collapse of currencies in Europe.

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