Definition, Meaning & Synonyms
great-depression
Noun
/ɡreɪt dɪˈprɛʃən/
Definition
The Great Depression refers to a prolonged period of economic downturn that began in 1929 and lasted through the 1930s, affecting economies worldwide.
Examples
- The Great Depression led to widespread poverty and unemployment.
- Many families were profoundly affected by the hardships of the Great Depression.
- The response to the Great Depression helped shape modern economic policies.
Meaning
It signifies a time when there was a significant decline in industrial output, massive unemployment, and a drop in consumer spending.
Synonyms
- Economic crisis
- Financial depression
- Recession
