definition of recession
d5a316933d7e36a9687a73be8fdb1562
- A recession is a period of at least two quarters of GDP contraction which usually involves job losses, reduced corporate profits and lower government revenue.
3f2d643185ba61a0e726e83925c5c8cd
- Answer: Most of us have an intuitive idea of what a recession entails-job losses, plant closures and tough times for families.
028fcaf1341a9c6dd98e4509f5593313
Chapter 9 - Business Cycles, Unemployment, Inflation A recession is a decline in total output, unemployment rises and inflation falls. 3. The trough is the bottom of the recession period, unemployment is at its highest, inflation is low. 4. expansion (recovery) is when output is increasing, unemployment begins to fall and later inflation begins to rise.
96cafae66ee950ef1c9e1966e6c48876
Causes of recessions A recession occurs when there is a fall in economic growth for two consecutive quarters. However if growth is very low there will be increased spare capacity and increased unemployment; people will feel there is a recession. This is sometimes known as a growth recession. see also: Definition of Recessions.
9d724c540eadc2103fe1b9a354c401eb
- Factors that cause a recession include high interest rates, reduced consumer confidence, and reduced real wages. Effects of a recession include a slump in the stock market, an increase in unemployment, and increases in the national debt. To unlock this lesson you must be a Study.com Member.
84cabab14d475bd0d64b8be2bb9d87de
- Answer Wiki. Thanks for A2A, Due to complexity of two terms both are taken as same . Though the economic influence of depression is more severe than recession.Recession is termed as economic slowdown of country for more than two economic cycles calculated by generated total output , also known as GDP . Recession is generally continuous cycle according to the principle of Booms and Busts.
c30f8415845fe003430a7b9f3736076a
- The short term effects of the recession are high unemployment caused by failed businesses and other jobs that were cut back due to the existing economic conditons.
30cadf1cf6dd6082ad62c12f6108ba19
Depression (economics) The stock market crash of 1929 marked the start of the Great Depression, the most widespread in modern history, with effects felt until the start of World War II. In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than an economic recession, which is a slowdown in economic activity over the course of a normal business cycle.
dafc6ae1ec6e0daeb3166109e85e2057
- A recession occurs when there is a decline in the gross domestic product, or GDP, over two or more consecutive quarters.
73a3e317c98ae67692b194a7b8348fa7
- Definition of recession. 1 : the act or action of receding : withdrawal. 2 : a departing procession (as of clergy and choir at the end of a church service)
21b3998e6de8a6d99a1035f768800e07
recession Economic Recession Definition. Economic recession is a period of general economic decline and is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market. Generally, a recession is less severe than a depression.
6ccc9014a3102076dd35d42deb050f8a
What is 'Depression' DEFINITION of 'Depression'. A severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts two or more years.REAKING DOWN 'Depression'. A depression is a sustained and severe recession. Where a recession is a normal part of the business cycle, lasting for a period of months, a depression is an extreme fall in economic activity lasting for a number of years.
1ea2be3c33e3f28ced5cb0ccc561b8dc
What was 'The Great Recession' BREAKING DOWN 'The Great Recession'. The term Great Recession is a play on the term Great Depression.. The latter occurred during the 1930s and featured gross domestic product (GDP) decline in excess of 10% and an unemployment rate that at one point reached 25%.
86567bba4c9b569fbc50d1e7663f4899
recession A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock m … arket, an increase in unemployment, and a decline in the housing market. A recession is generally considered less severe than a depression, and if a recession continues long enough it is often then classified as a depression.
99b37c4542410fc6a76187cd5f2503d1
Why do recessions occur? Confidence votes 404. this is a recession A recession is a period of time when the amount produced is going down. There are fewer jobs, unemployment is rising, and money is not as plentiful.
69c236260091662adcff8c901a06813f
Receding Gums A. A. Gum recession is the process in which the margin of the gum tissue that surrounds the teeth wears away, or pulls back, exposing more of the tooth, or the tooth 's root. When gum recession occurs, pockets, or gaps, form between the teeth and gum line, making it easy for disease-causing bacteria to build up.
8ef3718212336a7c01be848f684b19b2
Definitions &Translations depression(noun) a mental state characterized by a pessimistic sense of inadequacy and a despondent lack of activity. depression, slump, economic crisis(noun) a long-term economic state characterized by unemployment and low prices and low levels of trade and investment.
81f8c5348f7814d21f9f824290fc41aa
Recession For the past three recessions, the NBER decision has approximately conformed with the definition involving two consecutive quarters of decline. While the 2001 recession did not involve two consecutive quarters of decline, it was preceded by two quarters of alternating decline and weak growth.
9ad961000a66d8af5bdbee48fc72e1e6
DEFINITION of 'Economic Collapse ' DEFINITION of 'Economic Collapse '. A complete breakdown of a national, regional or territorial economy. An economic collapse is essentially a severe version of an economic depression, where an economy is in complete distress for months, years or possibly even decades.
1d4109222bd3852a2d34dbe2708eb0cb
What was 'The Great Recession' What was 'The Great Recession'. The Great Recession is a term that represents the sharp decline in economic activity during the late 2000s, which is generally considered the largest downturn since the Great Depression.
305844da484ac7daf5f4509b4a9933f8
- The contractionary phase of the business cycle is often described as a recession. There is no firm definition of what constitutes a recession, but it is generally described as a significant decline in economic activity spread across the economy and lasting more than a few months.
52d7a844b63398f561c2047171cbdcaa
- Essay on Causes of Recession. A recession occurs when there is a fall in economic growth for two consecutive quarters. However if growth is very low there will be increased spare capacity and increased unemployment; people will feel there is a recession. This is sometimes known as a growth recession. see also: Definition of Recessions.
1566ba8f75992fe18751fbe0b4d35fe7
- Economic Collapse. DEFINITION of 'Economic Collapse '. A complete breakdown of a national, regional or territorial economy. An economic collapse is essentially a severe version of an economic depression, where an economy is in complete distress for months, years or possibly even decades.
c52bf44d00c01f8a6739f415a9284aca
Types of recession 1. Boom and Bust Recession. Many recessions occur after a previous economic boom. In the economic boom, economic growth is well above the long run trend rate of growth; this rapid growth causes inflation and a current account deficit and the growth tends to be unsustainable.
41d3492d099fe22f4d8cfd886d396d11
Recession In economics, a recession is a business cycle contraction. It is a general slowdown in economic activity. Macroeconomic indicators such as GDP (gross domestic product), investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise.Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). recession has many attributes that can occur simultaneously and includes declines in component measures of economic activity (GDP) such as consumption, investment, government spending, and net export activity.
b3a476c21e7f142833d2cca5781edcc4
recession Related Terms. Period of general economic decline, defined usually as a contraction in the GDP for six months (two consecutive quarters) or longer. Marked by high unemployment, stagnant wages, and fall in retail sales, a recession generally does not last longer than one year and is much milder than a depression. Although recessions are considered a normal part of a capitalist economy, there is no unanimity of economists on its causes.