depression
Definition:
The stage in the BUSINESS CYCLE where there is high unemployment, low wages and low disposable incomes. Persons in employment lack confidence and so save rather than spend thus increasing the recessionary trend.
Cross-References:
[business cycles]
Links:
Figures:
© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].