The economic crisis
Example: The economic crisis affected many countries in the 1930s.
Definition
The economic crisis refers to a period of severe financial instability and downturn that impacts economies, causing widespread unemployment, reduced industrial activity, and significant declines in consumer and business confidence. The economic crisis often leads to hardship for many individuals and nations.
Etymology
The term "economic crisis" combines 'economic,' derived from the Greek 'oikonomikos' meaning 'management of a household,' and 'crisis,' from the Greek 'krisis,' meaning 'decision' or 'turning point.' Together, they describe a critical turning point in economic conditions, often involving major disruptions and challenges.
Learn to use this word actively
"The economic crisis" appears in the Vocaplus list "English - History - (B2) - set 1", containing 210 commonly used words.
Would you like to not only understand these words, but also remember them and use them actively? Create a free account and select English as the language you want to learn.
Create a free account
