Question

What is economic depression? ​

Answer 1

Answer:

Economic depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a recession, which is a slowdown in economic activity over the course of a normal business cycle.

Answer 2

A depression is a severe and prolonged downturn in economic activity . In economics , a depression is defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic products ( GDP ) of atleast 10 % .

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