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Consider the following statements and choose the correct answer?
  • a)
    Slow - Although the growth rate is increasing slower than the previous quarter
  • b)
    Contraction – Decrease in total production as compared to the previous quarter
  • c)
    Recession - if contraction persists for 2 quarters
  • d)
    Meltdown – Fall in capital market
  • e)
    None of the above / More than one of the above
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements and choose the correct answer?a)Slow...
All the above definitions 1, 2, 3 and 4 are correct.
IMPORTANT FACTS
  • In economics, factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. 
  • Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
OPTIONS EXPLANATION
Meltdown is the going down the rate of a country's economic activity.
  • An economic downturn is a non-specifically defined term that refers to a growing financial crisis with wide-ranging effects. 
  • There are no specific factors that constitute an economic recession, but there are several possible causes.  
  • A severe national crisis, such as a war, can halt normal industries and destroy the economic ability to produce goods and services. Similarly, a tremendous natural disaster can destroy the infrastructure of a small country,  Thereby causing a very real panic for both basic needs and economic considerations.
Slowdown - A period of slow economic growth, especially one that is followed by a period of strong growth. 
  • Unlike a recession, economic growth during a recession is not necessarily negative.  
  • For example, a country whose GDP has experienced growth of 3%, 3.3% and 3.5% for three consecutive quarters, but then has seen growth of 3.51% and 3.52%, is not in recession but in a slowdown.
Contraction, in economics, refers to a phase of the business cycle in which the economy as a whole is in decline.
  • A contraction generally occurs after the business cycle peaks, but before it becomes a trough. According to most economists, when a country's real gross domestic product (GDP)—the most-watched indicator of economic activity—has declined for two or more consecutive quarters, then a recession has occurred.
  • As the economy plunges into a contraction, unemployment increases. Although no economic contraction lasts forever, it is difficult to assess just how long a downtrend will continue before it reverses.
  • For eg: The longest and most painful period of contraction in modern American history was the Great Depression, from 1929 to 1933.
A recession is a business cycle contraction, in which there is a general slowdown in economic activity over a period of time. 
  • A recession is when the economy contracts for at least two quarters.
  • During a recession, Macroeconomic indicators differ similarly.  Production, employment, investment spending, capacity utilization, household income, business profits and inflation all fall during recessions, as measured by gross domestic product (GDP);  While bankruptcies and unemployment rates have increased.
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Community Answer
Consider the following statements and choose the correct answer?a)Slow...
All the above definitions 1, 2, 3 and 4 are correct.
IMPORTANT FACTS
  • In economics, factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. 
  • Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
OPTIONS EXPLANATION
Meltdown is the going down the rate of a country's economic activity.
  • An economic downturn is a non-specifically defined term that refers to a growing financial crisis with wide-ranging effects. 
  • There are no specific factors that constitute an economic recession, but there are several possible causes.  
  • A severe national crisis, such as a war, can halt normal industries and destroy the economic ability to produce goods and services. Similarly, a tremendous natural disaster can destroy the infrastructure of a small country,  Thereby causing a very real panic for both basic needs and economic considerations.
Slowdown - A period of slow economic growth, especially one that is followed by a period of strong growth. 
  • Unlike a recession, economic growth during a recession is not necessarily negative.  
  • For example, a country whose GDP has experienced growth of 3%, 3.3% and 3.5% for three consecutive quarters, but then has seen growth of 3.51% and 3.52%, is not in recession but in a slowdown.
Contraction, in economics, refers to a phase of the business cycle in which the economy as a whole is in decline.
  • A contraction generally occurs after the business cycle peaks, but before it becomes a trough. According to most economists, when a country's real gross domestic product (GDP)—the most-watched indicator of economic activity—has declined for two or more consecutive quarters, then a recession has occurred.
  • As the economy plunges into a contraction, unemployment increases. Although no economic contraction lasts forever, it is difficult to assess just how long a downtrend will continue before it reverses.
  • For eg: The longest and most painful period of contraction in modern American history was the Great Depression, from 1929 to 1933.
A recession is a business cycle contraction, in which there is a general slowdown in economic activity over a period of time. 
  • A recession is when the economy contracts for at least two quarters.
  • During a recession, Macroeconomic indicators differ similarly.  Production, employment, investment spending, capacity utilization, household income, business profits and inflation all fall during recessions, as measured by gross domestic product (GDP);  While bankruptcies and unemployment rates have increased.
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Consider the following statements and choose the correct answer?a)Slow - Although the growth rate is increasing slower than the previous quarterb)Contraction – Decrease in total production as compared to the previous quarterc)Recession - if contraction persists for 2 quartersd)Meltdown – Fall in capital markete)None of the above / More than one of the aboveCorrect answer is option 'D'. Can you explain this answer?
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