Recession

Question 1

recession

Answer 1

a period during which the total output of an economy declines.

Question 2

causes of recession

Answer 2

1. trade cycle
2. cautious entrepreneurs might feel pessimistic
3. the demand for households,firms, government and the export sector fall
4. if funds are not making sufficient profits.

Question 3

concequences

Answer 3

1. falling output
2. use of fewer factors of production
3. les income earned
4. rising unemployment and falling income
5. falling output, falling income and rising unemployment

Question 3

concequences

Answer 3

1. falling output
2. use of fewer factors of production
3. les income earned
4. rising unemployment and falling income
5. falling output, falling income and rising unemployment

Question 4

government policies to reduce a recession.

Answer 4

1. reflationary fiscal policies
2. reflationary monetary policies

Question 5

unemployment

Answer 5

any person who is actively seeking employment and is willing and able to work but unable to find work.