Boom & recession Flashcards

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1
Q

Boom

A
  • Economic health on place, rarely static, places grow & decline, economic activities not evenly spaced
  • Growth & stagnation linked with tech companies / innovation
  • Growth strong in urban areas
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2
Q

Recession

A
  • Slowdowns in economic activity like, GDP, investment, income, profits
  • Unemployment and bankruptcies rise
  • Some people able to cope with recession due to skills
  • House holds cut back on spending, fewer jobs, affect people across socio-economic spectrum
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