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Definitions from WordNet

Definitions from the Web

Economic Crisis

Description:

An economic crisis refers to a severe disruption in the financial stability and performance of a nation, region, or the global economy. It is characterized by a significant decline in economic activity, widespread unemployment, financial market turmoil, and a reduced availability of credit and investment opportunities.

Sample sentences:

1. The economic crisis of 2008 resulted in the collapse of several major banks and a global recession.
2. During an economic crisis, businesses often struggle to stay afloat and may need to make tough decisions like layoffs or cost-cutting measures.
3. Governments worldwide implement various policies and measures to mitigate the effects of an economic crisis and stimulate economic recovery.
4. The economic crisis deeply impacted the housing market, leading to a significant decrease in property values.
5. Individuals and families face hardships during an economic crisis, as they may experience job losses, wage cuts, and difficulties in meeting basic needs.

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