depression
Definition
Lowest point in an economic cycle characterized by (1) reduced purchasing power, (2) mass unemployment, (3) excess of supply over demand, (4) falling prices, or prices rising slower than usual, (5) falling wages, or wages rising slower than usual, and (6) general lack of confidence in the future. Also called a slump, a depression causes a drop in all economic activity. Major depressions may continue for several years, such as the great depression (1930-40) that had worldwide impact. See also recession.
depression is in the Economics, Politics, & Society subject.
depression appears in the definitions of the following terms: slump, pitting, Black Friday, cyclone, stock market crash, gold standard, Great Depression, economic crisis and recession
depression appears in the other term:
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