Tement provides the greatest explanation of how farming contributed to the great depression even while prices and demand were declining and output was rising.
An economic depression is characterized by a lengthy, continuous drop in economic activity in one or more economies. It is a more severe economic downturn than a recession, which is a slowdown in economic activity over the course of an average business cycle.
In terms of economics, a depression is a substantial downturn in the business cycle characterized by dramatic decreases in stock markets, significant declines in international commerce, high rates of unemployment, poverty, and homelessness, and rapid and sustained declines in economic activity.
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