Depression

Definition

  • In economics, a period of drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and unemployment.
  • An area that is sunk below its surroundings.

Synonyms
crash, economic decline, sag, recession

Related Terms and Acronyms

  • Commerce Definition,
    • The systems and activities that impact business and trade within a nation and abroad.
  • Deflation Definition,
    • An actual decline in the general level of prices in the economy.
  • Depreciation Definition,
    • The gradual loss of value of a building or other property because of age or natural wear.
  • Disinflation Definition,
    • A reduction in the inflation rate as a result of either government policy or a decline in economic activity.
  • Inflation Definition,
    • A rise in the average level of prices in the economy.
  • Microeconomics Definition,
    • Looking at the individual parts of the economy, with emphasis given to the market process and how it works.
  • Monetary Policy Definition,
    • The Bank of Canada's ability to influence the economy through changes in short-term interest rates and the money supply.
  • Recession Definition,
    • A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks.
  • Stagflation Definition,
    • A time period where the unemployment rate and the rate of inflation are both relatively high.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage