Question

how can economic situation affect the business operations? ​

Answer 1

Answer:

When it comes to recessions, sometimes the best definitions are the light-hearted ones. "If your neighbor gets laid off, it's a recession. If you get laid off, it's a depression," as one author jokingly put it. However, a more technical definition of a recession is two consecutive quarters of negative growth in the gross domestic product (GDP). According to the National Bureau of Economic Research, the hallmark of a recession is a "significant decline in economic activity spread across the economy, lasting more than a few months.