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How can economic situation affect the business operations? ​

Answer»

When it comes to recessions, sometimes the best DEFINITIONS are the light-hearted ones. "If your neighbor gets laid off, it's a recession. If you get laid off, it's a depression," as one AUTHOR JOKINGLY put it. However, a more technical definition of a recession is two consecutive quarters of negative growth in the gross domestic product (GDP). According to the National Bureau of Economic RESEARCH, the hallmark of a recession is a "significant decline in economic activity spread ACROSS the economy, lasting more than a few months.



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