The conversation between human and AI assistant.
Causes of great depression?
Yes, can you explain more about overproduction?
Overproduction occurred in the late 1920s and early 1930s. Many businesses had expanded their production capacity, but consumers didn't have the money to buy all the goods being produced, leading to a surplus of goods and eventual decrease in prices. This led to businesses reducing their output and laying off workers, which further reduced consumer purchasing power.