What is the difference between a recession and a depression

Asked by admin @ 29/10/2021 in Social Studies viewed by 259 People

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What is the difference between a recession and a depression?
A recession is a period of economic growth while a depression is a period of economic contraction.
A depression is a particularly deep recession with high levels of unemployment.
A recession is more severe than a depression and lasts longer.
Unlike a recession, a depression includes high levels of inflation.

Answered by admin @ 29/10/2021

A depression is a particularly deep recession with high levels of unemployment. is your best answer

A recession is not as bad as a depression, as there is still economic activity, however, it is diminished. In a depression, economy is in a downturn, and may end up having large amounts of unemployment, leading to a quick drop of a GDP.

hope this helps

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What is the difference between a recession and a depression

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