NCERT · Class 10 · Social Science · History: The Making of a Global WorldWhat was the Great Depression and when did it begin?

The Great Depression was a severe worldwide economic downturn that began around 1929 and lasted until the mid-1930s. It was characterized by a drastic decline in production, employment, incomes, and trade. Agricultural regions and communities were worst affected because the fall in agricultural prices was greater and more prolonged than that of industrial goods.