Economics was never my subject.
- In Layman’s terms, what’s the difference between inflation, recession, deflation and depression? (2)
- Can someone explain the difference between Bipolar & depression? Simple terms, please? (11)
- What is the difference between a recession and a depression in terms of the economy? (3)
- What’s the difference between depression and feeling depressed in terms of symptoms? (6)
- What’s the difference between self-pity and depression in terms of recognition and (non- drug) treatment? (3)
- In dental terms, what is the difference between a veneer and a crown? (3)
- what’s the difference / similarities between these dental terms? (2)
- What is the difference between blueberry and bilberry in terms of eye benefit? (1)
- What’s the difference between overeating sugary/fatty foods and overeating healthy foods with same calories? (0)
- What’s the difference between overeating sugary/fatty foods and overeating healthy foods with same calories? (0)
- i need ideas to eat healthy because i don’t really see the difference between foods? (4)
- Is there a difference between eating healthy and gluttony during pregnancy? (0)
- What is the difference between Iceberg and Romaine lettuce? (2)
- What Is The Difference Between Carrier Oils And Essential Oils? (0)
- What is the difference between healthy bone tissue and bone affected by osteoporosis? (0)
- What is the difference between STDs, AIDS & HIV? What/Where is a good source to find clear distinction & info? (3)
- Whats the difference between a vegetarian and a vegan? (6)
- What is the difference between socialized medicine and universal health care, if there is a difference? (4)
- Will the global economic depression lead to an increase of suicide in terms of population? (1)
- What the difference between a biostatistician or epidemiology? (1)
Tagged as: Between, Depression, difference, please, recession, Simplest, terms
{ 13 comments… read them below or add one }
It’s fuzzy. A depression is just a deep recession that goes on for a long time.
Think of a recession as a push and a depression as a shove.
Recession is a countries gross domestic product reducing for two quarters, and a depression is a recession that last for a longer period of time, like over 8-12 months. Also a depression also has abnormally high unemployment rates, and severe restriction of credit.
yeah it’s like a deep recession. you know like the great depression. yeah you know. but like right now i would say we’re in one well in the US if thats where you are. so from a recession it can either get better and we can head for a ?procession? i think it’s call but i know that’s when everything starts to get better buuut we could get worse and head into a depression.
a recession is when there is 2 consecutive quarters of losses…or something of that nature.
don’t sweat the difference just reduce spending and pay off your credit card debt.
A recession is when you go window shopping and keep your wallet closed, a depression is when the windows are closed and your wallet is empty.
Oh wow…A depression needs prozac and a recession needs tequilla…
Am I right?
It was never mine either.
After watching this it should be clear as mud.
http://www.youtube.com/watch?v=NIfH0vY2ANA
Simplest definition of a recessoin is two consecutive quarters of declining Gross National Product (GNP). The Business Cycle definition is more complex. A depression happens when GNP delines by 10% or more over a period of time. These are the simplest definitions. However, the answer cen be complex depending on the yardstick used for mesauring declining activity as GNP is but one of the macro indicators of economic health.
Recession effects us, Depression effects the richy rich corperations and banks.
Recession is an economic slow down and down turn. Depression is an economic explosion like the Great Depression of the 30’s.
Economics is a very complicated topic, so if you really want the full answer, just take 5 to read this. I’ll try to be as brief as possible
The way economics work is that things go up in price overtime, generally products get more expensive than services. This process is called inflation. Economics allows inflation till the point where nobody wants to pay for anything, and then people start losing jobs due to the expense to keep them. This is called a recession. When things start to get normal again, inflation starts again. And this keeps going. That is generally what happens overtime, and recessions happen about every 5-10 years.
There have only been two true depressions since 1901, and those are The Great Depression (1924-1930) and The Global Financial Crisis which has been going on since 2005. A depression is just a term for when the process of inflation lasts for longer than expected and then the interest rates really cut down low. In our current depression, the rates are tipped to dive lower than how they did in 1964 when the Reserve Bank cut it to 2.4%.
Queensland Treasurer, Andrew Fraser has been tipped off by Kevin Rudd about a second economy bonus for Australian accounts to help with when the interest rates do come down. However, Australian economists predict The Global Financial Crisis will end between the year 2011 and 2016.