one of the weaknesses in the economy of the 1920s was that too many people were relying on credit to make…

one of the weaknesses in the economy of the 1920s was that too many people were relying on credit to make purchases. why was this a weakness? check all of the boxes that apply. if lenders try to collect the money they are owed and cant collect, lenders may go out of business. if debts cannot be collected on a wide scale, many workers will lose their jobs. done

one of the weaknesses in the economy of the 1920s was that too many people were relying on credit to make purchases. why was this a weakness? check all of the boxes that apply. if lenders try to collect the money they are owed and cant collect, lenders may go out of business. if debts cannot be collected on a wide scale, many workers will lose their jobs. done

Answer

Answer:

  • If lenders try to collect the money they are owed and can't collect, lenders may go out of business.
  • If debts cannot be collected on a wide scale, many workers will lose their jobs.

Brief Explanations:

When lenders can't collect debts, they face financial losses and may fail. Widespread debt - non - collection can lead to business failures, causing job losses as companies cut back or shut down.