What is Economic Crisis

Abnormal fluctuations in the prices of goods, services, production, and foreign exchange.

Economic crisis is a period in an economic cycle in which an economy faces difficulties for a long time.

It is a period in an economic cycle in which an economy faces difficulties for a long time.

It is a drastic fall in the economic performance of the country which is manifested in a decline in production and demand, rising unemployment and bankruptcy of businesses. This will automatically lead to high poverty levels in the country.

A sharp deterioration in the economic state of the country, manifested in a significant decline in production; violation of existing production relations; bankruptcy of enterprises; and rising unemployment. The result of the economic crisis is a decline in the living standards of the population and a decrease in the real gross national product.

A situation in which the economy of a country experiences a sudden downturn.

Period of shortage in production, marketing and consumption of products and services.

Shocking economic events that occur suddenly, adversely affect in both the state and companies.

Economic crises that occur in a certain period or unexpectedly due to inadequate or wrong management.

A sharp deterioration in the economic state of the country, manifested in a significant decline in production; violation of existing production relations; bankruptcy of enterprises; and rising unemployment.

Economic crisis in a situation when the economy has a slowdown of economic activities due to financial/bank crisis, inflation, currency crushes, or sovereign debt.

A situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis.

The wild fluctuations, outside the acceptable limits of change, in the prices or supplies of commodities. Economic crisis is usually seen as a situation in which the economy of a country experiences a sudden downturn in its aggregate output or real gross domestic product (GDP). The result of the economic crisis is a decline in real income per capita and an increase in unemployment and poverty.

A situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis.

Economic crisis can be defined as the wild fluctuations, outside the acceptable limits of change, in the prices or supplies in any markets of commodity or services, or factors of production.

An undesired economic condition in which the country experiences some combinations of several issues such as decreasing trade, productivity and investment levels, unemployment, and price instabilities.

The concept of crisis, which is widely used in the literature of various disciplines and in daily language, has its etymological roots in Greek “krisis” (???s?). The concept of economical crisis first entered the social sciences literature in 1960’s. Economic crisis could be defined as a period of difficulty, dismay or an emergency in the life of a country, a society or a corporation, or in relations of several countries. In other words, an economic crisis is an unforeseen set of developments creating results which would affect states in the macro level and corporations in the micro level. According to another definition, economic crisis could be expressed as a situation that develops unexpectedly in the operation of the financial system or its sub-components and affects the operation of the system in a significantly negative manner. Economic crises experienced in national economies are usually a product of negative fallout in the economical and political cycles and structures. But it could be stated that economic crises are a general outcome of macro economical instability.

Financial catastrophe including inflation, high interest rates, unavailability of financial resources or unstable financial status.