What's the difference between economic depression & recession?

Question

What's the difference between economic depression & recession?

Answer 1

A depression is a particularly severe and prolonged recession. A very bad recession, in other words.

Take for example, the 1929 stock market crash. In a recession there will be unemployment and people will need to save what they have to get by. In a depression, many people will lose every penny they own.

Answer 2

A recession is like being punched on the nose. A depression is like being stabbed in the stomach: somewhat more serious.

Answer 3

recessions are cyclical and self-correcting while depressions are rare and often need government regulated programs... such as C.C.C. and various others under roosevelt

Answer 4

The extent and duration of economic decline.  The economic status at this point is mild recessionary period.  A depression is not a likely possibility in the present circumstance as measured by GDP and  personal income.

Answer 5

E.C means that the economy is very low and recession is that money can be quite tight; like to be on stand by

Answer 6

a recession is a relatively short period of of economic downturn while a depression is when the economy produces continuious losing quarters for many years. the great depression lasted for like twelve years.

Answer 7

A recession is (2) concurrent quarters of negative GDP growth.

A depression is a 10% or more decline in the GDP.

Answer 8

depressed economy is still working.

recessed economy is not working/ no body has money/jobs/etc

Answer 9

Recession is when a man feels suicidal over lack of money

Economic depression is when he actually does it over money...both bad but depression is much much worse

Just my analogy of it

Answer 10

i dont have an answer all i know is u dont wanna wish for a depression, thats bad dude, ever had of the greatest depression well do your research