What is recession? - letsdiskuss
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Neha Bhasin

Dietitian | Posted on | others


What is recession?


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The term, recession, is derived from the Latin word "recalcitrant," meaning "to be unruly or uncontrollable." Firms have difficulty raising prices and profits at a time when demand is weak. Economists now use the term "recession" to refer to any significant decline in spending and production for two years in a row: these recessions can either be short-term or long-term. Learn more about what this phrase means in our blog post about what is recession. 


Modern economies are very complex with many different variables at work that alter spending patterns, consumer behavior, etc.


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