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Depression
(redirected from crisis, economic)

    Also found in: Medical, Encyclopedia, Wikipedia 0.03 sec.
Depression
A severe and prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels.

Notes:
In times of depression, consumer's confidence and investments decrease, causing the economy to shutdown. The classical example of this occurred in the 1930s the Great Depression affected the global economy.

Depression
Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.
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There is a tendency in times of crisis, economic or human, to want to take action.
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