What Is the Definition of an Economic Depression?

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Economic depression refers to long term downturn in economic activity in one or more economies. It is characterised by its length, abnormal large increase in unemployment, fall in the availability of credit, banking or financial crisis and shrinking output.
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What Is the Definition of an Economic Depression?
The economic recession that began in 2008 left many people asking if the U.S. economy is headed toward the first depression since the 1930s. It also reignited the question of the difference between a recession and a depression.... More »
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Q&A Related to "What Is the Definition of an Economic Depression"
Significance Characteristics of an economic depression include severe declines in economic output, as measured by the gross domestic product (GDP) and a sharp increase in unemployment
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An economic depression is a period of time in which the economy has reached the lowest point possible. Production and consumption decreases drastically, and unemployment rises.
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Economic depression (noun)a sustained economic recession in which a
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It's when the economy is so bad that you can't buy cute new shoes, so you get depressed.
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An economic depression is a period of time in which the economy has reached the lowest point possible. Production and consumption decreases drastically, and unemployment ...
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