What Is The Difference Between A Recession And A Boom?

1 Answers

d ds Profile
d ds answered
Both of them are opposite phases of business cycle.
Recession is the contraction phase of economy in which all economic activities, employment, investment etc begin to decline.
Boom is the period when all the economic activities are rapidly growing like production increases, rising employment.
In recession inflation rate decreases but in Boom period it increases, but when in recession prices inflation increase it results in stagflation.

Answer Question

Anonymous