The economic crisis
Example: The economic crisis affected millions of people worldwide quickly.
Definition
"The economic crisis" refers to a period of severe financial instability and downturn characterized by widespread unemployment, falling incomes, and a significant decline in economic activity that impacts individuals, businesses, and governments globally or within a specific region.
Etymology
The phrase "the economic crisis" combines 'economic', derived from the Greek 'oikonomikos', meaning 'household management', and 'crisis', from the Greek 'krisis', meaning 'decision' or 'turning point'. The term evolved to describe major turning points in economic conditions, often marked by hardship and uncertainty.
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
