History, asked by btsarmyyyy, 11 months ago

short notes on economic depression​

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Answered by snehabains25
1

Answer:

A depression is a severe and prolonged downturn in economic activity, in economics , a depression is commonly defined as an extreme recession that lasts three or more years or leads to a decline in real gross domestic product (GDP) of at least 10 percent

Answered by Anonymous
7

 \texttt{ \underline{ \underline{ \:  \: Economic Depression  \:  \:  \: } }}

An economic depression is a long period during which economic growth does not occur, and unemployment is very high.

We often refer to this only as a depression.

It is a more severe and prolonged form of recession.

During an economic depression, high unemployment rises and remains high. In addition, there are very few jobs.

There are many debt defaults, declining incomes and often deflation. Economic activity is much lower than normal.

In some cases, the country's currency also devaluates.

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