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Unformatted text preview: Running head: HISTORICAL EXAMPLE OF LABOR SUPPLY AND DEMAND 1 Historical Example of Labor Supply and Demand Shannon Greenwood XECO/212 February 17, 2012 Phillip Post HISTORICAL EXAMPLE OF LABOR SUPPLY AND DEMAND 2 Historical Example of Labor Supply and Demand The historical example of labor supply and demand in the United States that I chose to analyze is the Great Depression. During the 1930’s, the United States went through a horrific economic crisis called the Great Depression. This came it was caused by a sequence of unfortunate events that caused a ripple effect on the economy. Once the stock market crashed, people in the United States lost billions. Demand dropped which lowered the equilibrium. It also caused an excessive amount of goods and services also known as a surplus. All of these extra goods and services led to people losing their jobs because their goods and services were not needed any longer. Because of everyone losing their jobs they did not have money to spend. Take needed any longer....
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