Describe recession and explain the effect of recession on business
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One effect of a recession is a slump in the stock market. ... Therefore, business earnings fall along with their stock market price. An increase in unemployment is another recession effect. Businesses reduce production because consumer spending slows.
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Explanation:
▶Recession is a slowdown or a massive contraction in economic activities. A significant fall in spending generally leads to recession...In such a situation , economic indicators such as GDP , corporate profits , employment , etc., fall. this creates a mess in the entire economy. ✔
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