what do you mean by DEPRESSION in economics? a deeep trough is called a slump or depression?

Top 2 Answers

A few days ago

Anonymous

Favorite Answer

A depression is when an economy is going down. it’s when industies are closing and theres less money going into a country.

The opposite to this is a boom. When the economy of a country is rising

For reference research the great depression

A few days ago

shailesh

A drop in demand which leads to falling prices and unemployment is known as depression in economy.

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