C. Lack of credit
Explanation:
The Great Depression, also known as the Crisis of 29, was a major global financial crisis that lasted during the 1930s, in the years before World War II. Its duration depends on the countries analyzed, but in the majority it began around 1929 and extended until the late thirties or early forties. It was the longest depression in time, of greater depth and the one that affected the greatest number of countries in the 20th century. In the 21st century it has been used as a paradigm of the extent to which a serious deterioration of the economy can occur worldwide.
The so-called Great Depression originated in the United States, after the fall of the New York Stock Exchange on Tuesday, October 29, 1929 (known as Crac on 29 or Black Tuesday, although five days earlier, on October 24, Black Thursday had already occurred), and quickly spread to almost every country in the world.
The depression had devastating effects in almost all countries, rich and poor, where insecurity and misery were transmitted as an epidemic, so that they fell: national income, tax revenues, business profits and prices. International trade decreased between 50% and 66%. Unemployment in the United States increased to 25%, and in some countries it reached 33%, cities around the world were severely affected, especially those that depended on heavy industry, and the construction industry stopped virtually in many areas. Agriculture and rural areas suffered the fall in crop prices, which reached approximately 60%. Given the fall in demand, the areas dependent on the primary sector industries, with few alternative sources of employment, were the most affected.
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