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john maynard keynes developed new economic theories in response to the stock market crash of 1929. great depression of the 1930s. first and second world wars. economic boom of the 1950s.

the outcome of 1970 oil crisis in united states was that, they began to search ways on how to reduce oil.

in 1970 was a period when there were energy and oil crisis. those who were major centers for industrialization were forced to keep way from supplying of petroleum.

some of the result of this crisis was economic growth became stagnant because prices of oil surged.

due to the increased prices some countries like mexico and norway benefited.

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