Which statement describes economic activity in a recession?
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which region ur talking about
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The statement A, describes economic activity in recession, that is the consumer spending declines.
EXPLANATION:
- In Economics, recession is defined as condition in which the slow down if markets take place because the spending from people decreases, this decline or decrease happens because of fear of loss of money.
- Many economists believe that it is caused by faulty principles and policies of government which causes people to decrease their spending.
- It is generally believed to be caused by high inflation rates which in turn further slows down markets and economic growth.
- The major developed countries in world were hit by economic recession of 2007.
To learn more about Economic activity:
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