What were the social impacts that the wall street crash had on the u. s

The Wall Street Crash of 1929 has many impacts on the U.S., whether it be social or financial impacts. The event is mostly known as the 'Stock Market Crash of 1929', or the 'Great Crash'. 

In September, one month before the stock market crashed, investors realized that the economy was indeed going slower than usual. This is when the investors became very desperate and started to sell their shares (proportion of a company). Some of the prices on it were ridiculously high, only because the economy was beginning to fail. Before the stock market crashed, many investors got to sell their shares for very high prices, while in the next few days, the price of shares dropped increasingly low. This is when the stock market in New York crashed. 

Following the crash, many of the investors were now basically broke. They had troubles paying off debts, and lost savings. Majority of the population lost their job or either had their hourly/daily rate cut. This then became known as the worldwide 'Great Depression'. 

To sum it up, after the stock market crashed, most of the population could not afford many things (such as food, clothes, and daily stuff). Employees were either cut from their job or their hourly/daily rate was cut down. All this led down to cause the 'Great Depression'.

high entry costs prevent new producers from entering the market.

explanation:

an oligopoly is a term used to clarify the structure of a particular market, industry, or organization. a market is considered oligopolistic or amazingly focused when it is shared between a few companies.