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Economic Shock |
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Economic shock Events that impact the economy which originate from outside it. They are unexpected and unpredictable (e.g., Hurricane Andrew in 1991, the rise in oil prices by OPEC). Economic Shock An event that can cause a sudden, drastic change in an economy. For example, if it were suddenly discovered that there is no more oil in the world, this would cause economic shock, causing prices to skyrocket. Likewise, if the technology was developed to make oil obsolete and was announced with no notice, it would cause an economic shock in the other direction. An economic shock can be either positive or negative; likewise, it can be temporary or permanent. See also: Price in. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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