Economic depression
noun
a sustained economic recession in which a nation’s Gross National Product (GNP) is falling and marked by low production and sales and a high rate of business failures and unemployment
Read Also:
- Economic-determinism
noun 1. the doctrine that all social, cultural, political, and intellectual forms are determined by or result from such economic factors as the quality of natural resources, productive capability, technological development, or the distribution of wealth. noun 1. a doctrine that states that all cultural, social, political, and intellectual activities are a product of the […]
- Economic-geography
noun 1. a branch of geography that deals with the relation of physical and economic conditions to the production and utilization of raw materials and their manufacture into finished products. noun 1. the study of the geographical distribution of economic resources and their use
- Economic-geology
noun 1. the branch of geology dealing with the location and exploitation of industrial materials obtained from the earth. noun 1. the study of how geological deposits can be used as economic resources
- Economic-good
noun 1. a commodity or service that can be utilized to satisfy human wants and that has exchange value.
- Economic indicator
noun 1. a statistical measure representing an economic variable: the retail price index is an economic indicator of the actual level of prices