What is a recession

Who is John in the video

• A teacher

• A doctor

• An ambitious man working at a manufacturing company

• A government official

What is a recession

• A time of economic growth

• A time when the economy struggles

• A type of job promotion

• A celebration of financial success

What can lead to a recession

• High demand for good and services

• A match between supply and demand

• Too much supply and not enough demand

• Increased savings

What happens when interest rates are low?

• It costs more to borrow money

• It becomes cheaper to borrow money

• People stop borrowing money

• Companies lose money

What is one effect of high interest rates on the economy?

• Increased borrowing

• More investment opportunities

• Slower economic activity

• More job openings

What is a major cause of interest rate changes?

• Changes in government policies

• Factors like naturals disasters, war, or pandemics

• The success of small businesses

• The rise of new technologies

What can happen if people cannot repay loans?

• They will receive more loans

• They may sell their business

• They will get promotions at work

• They will become rich

What was one factor that contributed to the Great Recession of 2007?

• People saving too much money

• People borrowing too much money

• A rise in interest rates

• Increased job openings

What does the government do during a recession?

• Increase taxes

• Reduces the number of jobs

• Helps unemployed people and businesses

• Stops all spending

How long did the Great Recession last?

• From December 2005 to June 2007

• From December 2007 to June 2009

• From January 2010 to December 2012

• From May 2008 to March 2010