Answer:
The laypeople’s explanation of the great depression at that time was that a huge supply of goods had stagnated the market.
Step-by-step explanation:
- The common people who did not understand much about economics and its traits called over supply of goods responsible for the great depression.
- According to the laypeople, the increased production of various commodities during the period of first world war had affected the demand for the commodities greatly.
- It was because of this design of industries run for the increase in production of commodities gradually culminated in great depression.