ECONOMIC CONDITION

Pronunciation (US): (GB):

Meaning:

The condition of the economy

Classified under:

Nouns denoting stable states of affairs

Hypernyms ("economic condition" is a kind of...):

condition; status (a state at a particular time)

Hyponyms (each of the following is a kind of "economic condition"):

recession (the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year)

depression; economic crisis; slump (a long-term economic state characterized by unemployment and low prices and low levels of trade and investment)

full employment (the economic condition when everyone who wishes to work at the going wage rate for their type of labor is employed)

prosperity (an economic state of growth with rising profits and full employment)

softness (a state of declining economic condition)

shakeout (an economic condition that results in the elimination of marginally financed participants in an industry)

wage setter (any economic condition or variable that serves to set wage rates)