Quiz: Recession Characteristics
Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
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Building on your understanding of the business cycle, let's explore the characteristics of a recession in more detail!
What is a recession?
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Which of the following are typical features of a recession? (Select all that apply)
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During a recession, firms often reduce production because {{blank0}} is weak and {{blank1}} falls.
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If GDP falls by £50 billion in the first quarter and £30 billion in the second quarter, what is the total fall in GDP?
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Which sector is often most affected during a recession?
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What are common government responses to a recession? (Select all that apply)
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Recessions often lead to a {{blank0}} in consumer spending and a {{blank1}} in savings.
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