Definitions from the Web
Catastrophic Economic
Definition:
The term 'catastrophic economic' refers to an extreme and devastating state or occurrence relating to the economy, often resulting in severe consequences for individuals, businesses, or the overall financial system.
Examples:
As an adjective:
- This pandemic has caused a catastrophic economic downturn, leading to high levels of unemployment and business closures.
- The country faced catastrophic economic collapse due to rampant corruption and mismanagement.
- After the earthquake, the region struggled with catastrophic economic losses that took years to recover from.
As a noun:
- The government's mishandling of the financial crisis resulted in a catastrophic economic for the entire nation.
- Individuals affected by a catastrophic economic often rely on government assistance to recover and rebuild their lives.
- The stock market crash of 1929 led to a catastrophic economic that had far-reaching effects worldwide.
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