The laypeople’s explanation of the great depression at that time was that a huge supply of goods had stagnated the market.
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.
