What economic conditions were prevalent prior to the Great Depression?

Answer was given in the explanation.

Step-by-step explanation:

The Great Depression was a serious global economic crisis that started mostly in the 1930s and started in the United States. The timing of the global financial crisis varies worldwide. In most countries, it began in 1929 and continued until the late 1930s. It was the deepest, longest, and most widespread depression of the 20th century. The specific economic events that taken place during the Great Depression are well known. There was an initial market crash that triggered a "panic sale" of the assets. This was followed by deflation in asset and commodity prices, a dramatic drop in demand and credit, and trade disruption, which ultimately led to widespread unemployment (more than 13 million people were unemployed in 1932) and impoverishment. However, historians and economists have not reached a consensus on the causal links between different events and government economic policies to cause or improve depression.