Definition Of Great Depression In Economics

Economic depressions are characterized by their length by abnormally large increases in unemployment falls in the availability of credit often due to.

Definition of great depression in economics. Economic depression is a sustained long term downturn in economic activity in one or more economies. Term great depression definition. It is a more severe economic downturn than a recession which is a slowdown in economic activity over the course of a normal business cycle. And other countries roughly beginning with the stock market crash in october 1929 and continuing through most of the 1930s.

Great depression definition the economic crisis and period of low business activity in the u s. 24 1929 u s. Although it originated in the united states the great depression caused drastic declines in output. It began shortly after the oct.

Economic definition of great depression defined. The great depression lasted roughly a decade and is widely considered to be the worst economic downturn in the history of the industrialized world. A period of time from 1929 to 1941 in which the economy experienced high rates of unemployment averaging well over 10 low production and limited investment this period of stagnation prompted radical changes in the way government viewed it s role in the economy and.