economic condition

Definitions of economic condition
  1. noun
    the condition of the economy
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    examples:
    Great Depression
    the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
    types:
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    recession
    the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
    depression, economic crisis, slump
    a long-term economic state characterized by unemployment and low prices and low levels of trade and investment
    full employment
    the economic condition when everyone who wishes to work at the going wage rate for their type of labor is employed
    prosperity
    an economic state of growth with rising profits and full employment
    softness
    a state of declining economic condition
    shakeout
    an economic condition that results in the elimination of marginally financed participants in an industry
    wage setter
    any economic condition or variable that serves to set wage rates
    boom
    a state of economic prosperity
    type of:
    condition, status
    a state at a particular time
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