Great Depression Vocabulary

1. Inflation -When there is a high demand and not enough supply of the product Economic Cycle Inflation Recession Depression Recovery

2. Deflation - When there is a high supply of the product and not enough demand Economic Cycle Inflation Recession Depression Recovery

3. Depression -a period during which business, employment, and stock-market values decline severely or remain at a very low level of activity. Economic Cycle Inflation Recession Depression Recovery

4. Recession -A slowdown in economic activity where spending and the GDP (gross national product) decreases slightly.

5. Stock Market -A place where partial ownerships of a company (stocks) are bought, sold, and traded. (Company must be publicly traded to have stocks.)

6. Credit -Buying an item with a promise to pay it back with interest.

7. Bank -A business that safeguards money for individuals and invests it to turn a profit through loans, interest, and credit.

8. FDIC -(Federal Department Insurance Company) insures money that is deposited into banks up to 250,000 per individual per bank.

9. “Hooverville” -a collection of huts and shacks, as at the edge of a city, housing the unemployed during the 1930s.

10. Flapper -a young woman, especially one who, during the 1920s, behaved and dressed in a boldly unconventional manner.

11. Prohibition -A law that made it illegal to buy, sell, or distribute alcohol (Amendment 18)

12. Jazz -Lively music that originated in New Orleans and was part of the Harlem Renaissance.

13. Harlem Renaissance -An art and social movement of the 1920s that featured Poetry, Stories, and music that was centered on African American culture in America.

14. Labor Union -When workers form a group to negotiate workers’ needs with a company.

15. Assembly Line - A machine system used to make goods faster in a factory.

16. Factory -any place producing a uniform product, without concern for individuality using assembly lines.

17. Black Tuesday - The day the stock market crashed that led to the bank collapse.

18. Social Security -A government run program providing welfare, unemployment, and money for elderly citizens in the United States.

19. Unemployment Rate - The number of people in a particular area that do not hold a job compared to those who are able to hold a job.

20. “New Deal” -Franklin Delano Roosevelt’s plan to give Americans relief from the Great Depression.