Historic Recession

Question 1

Technical Recession?

Answer 1

• Recession takes place when recessionary phase lasts for considerable amount of time
• When recessionary phase lasts for 2 quarters that is called as Technical recession.

-EX: India
April-June :Contraction of 23.5% of GDP
July-Sept : Contraction of 7.5%
Simultaneous recession,hence it’s called technical recession.

[6 MAHINE RECESSION]

Question 2

Recessionary phase?

Answer 2

When GDP sees drop compared to previous quarter

Question 3

Business cycle?

Answer 3

When expansionary & recessionary phases are chilled it up together,it’s called as business cycle.