What is a recession? | What Is Explainers

Recession is a word that gets thrown around a lot, but what exactly does it mean? Well, we know it involves lowered spending and employment, but the full answer is a little more complicated than you might think. But we’re here to help clear it up for you.

In this crash course on recessions, we address any questions you might have around these costly economic events.

What is a recession? What causes a recession? How do recessions impact average people and businesses? What is the difference between a recession and a depression? How do you deal with a recession?

For the answers to all these questions and more, check out this episode of TVO’s What Is Explainers.

0:00 - What is a Recession?
0:30 - Defining a Recession - Rule of Thumb
0:50 - How do Recessions Impact You?
1:26 - Unexpected Economic Shocks - Common Recession Causes
1:46 - Too Much Debt - Common Recession Causes
1:57 - Asset Bubble - Common Recession Causes
2:14 - Inflation - Common Recession Causes
2:30 - Difference Between Recession and Depression
3:18 - Preparing for a Recession
3:27 Conclusion

Want to know more about Asset Bubbles, specifically Housing Bubbles? Check out this video from TVO's What is Explainers:
   • What is a housing bubble? | 'What Is'...  

Produced by Ariana Longley
Twitter: @500DaysofAriana
  / 500daysofariana  

About What Is Explainers:
TVO Today’s ‘What Is’ explainers are bite size videos providing information to help you better understand the world you live in.

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