Shownotes Transcript
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With the world currently experiencing a variety of economic problems, I thought it would be interesting to look at the worst economic crisis in modern history! What was the Great Depression? What caused it? And how did it end? Let’s discuss these questions and more on today’s episode on Thinking in English!
TRANSCRIPT --- https://thinkinginenglish.blog/2022/07/06/what-was-the-great-depression/)
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Vocabulary List
Recession (n) – a period when the economy of a country is not successful and conditions for business are bad for months
Much of the world fell into recession after the stock market crash in 2007
Depression (n) – a serious economic crisis in which there is very little business activity and little employment for years
The world plunged into depression in the 1930s
Downturn (n) – a reduction in the amount or success of something, such as the economy
There is evidence of a downturn in the housing market
Recklessly (adv) – in a way that is dangerous and shows that you are not thinking about the risks and results of behaviour
She spends her money recklessly
Production (n) –making or growing goods to be sold
Wheat production has fallen over the past 6 months
To trade (v) – buying and selling shares on the stock exchange
The volume of stocks traded today was unusually high
Makeshift (adj) – temporary and of low quality, but used because of sudden need
Thousands of refugees are living in makeshift camps
To stimulate (v) – to encourage something to grow, develop, or become active
The government plans to cut taxes to stimulate the economy
To devalue (v) – to reduce the rate at which money can be exchanged for foreign money
The British pound was devalued and it caused a major economic crisis
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