SS 8 - Great Depression Vocab

20 terms by BTLawrence

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relief

programs to help the needy

recovery

a period of increasing employment and expanding business activity

reform

to make changes for the better

migrant

people who move from one region to another to find work

sit-down strike

workers stop all machines and refuse to leave the factory

overproduction

to produce more goods than people can buy

on margin

pay only part of the cost of stock when a purchase is made

bankrupt

unable to pay debts

soup kitchens

places where the hungry could get a free meal

bonus

an additional sum of money

collective bargaining

process by which a union representing a group of workers negotiates with management for a contract

public works programs

projects by the government for public use

bank holiday

closing of every bank in the country for 4 days

national debt

total sum of money the government owes

deficit spending

government spending more than they take in

pension

sum of money paid to people on a regular basis after they retire

boom

a period of increasing employment, consumer spending, factory expansion and consumer confidence

peak

a period of full employment and overproduction

recession

a period when employment, consumer confidence and demand begin to decrease

depression

a period where unemployment is very high and people begin to lose their homes and farms; factories close, and banks fail

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