Economics A Level: What is a
1. Boom
2. Recession and Slump
3. Economic Depression

Question

What is a 
1. Boom
2. Recession and Slump
3. Economic Depression

go kys · Accepted Answer

1. Booms are when there is a Long Period of Economic Growth Rates 
2. If there is Negative Economic Growth for 2 Consecutive Quarters, then a Recession is in Place. A Slump is just a Long Recession
3. Economic Depression is a Sustained Economic Downturn which lasts for a Long Time

Economics A Level

What is a 1. Boom 2. Recession and Slump 3. Economic Depression

1. Booms are when there is a Long Period of Economic Growth Rates 2. If there is Negative Economic Growth for 2 Consecutive Quarters, then a Recession is in Place. A Slump is just a Long Recession 3. Economic Depression is a Sustained Economic Downturn which lasts for a Long Time

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