economic crisis

English

Noun

economic crisis (plural economic crises)

A crisis caused by the general demand for goods within an economy falling below their supply, either temporarily or on a protracted basis, typically resulting in widespread bankruptcies of unproductive businesses and falling prices.

Usage notes

Economic crisis is sometimes used synonymously with financial crisis, but generally has a broader and not specifically financial connotation in technical literature.[1]

Translations

period of economic slowdown — See also translations at financial crisis

Chinese:
Mandarin: 經濟危機／经济危机 (zh) (jīngjì wēijī)
French: crise économique (fr) f
German: Wirtschaftskrise (de) f
Hungarian: gazdasági válság
Italian: crisi economica f

References

Zimmermann, Ekkart (2011), “Market Failure”, in Bertrand Badie; Dirk Berg-Schlosser; Leonardo Morlino, editors, International Encyclopedia of Political Science, volume 1, SAGE Publications, →ISBN, page 1491:
An economic crisis basically means that producers have miscalculated the amount and type of goods consumers are willing to buy. The consequence is an uncleared market and, in case of a deepening crisis, a further extension of unsold products. […] Such economic crises can be caused and intensified by financial crises […] .

[1] Zimmermann, Ekkart (2011), “Market Failure”, in Bertrand Badie; Dirk Berg-Schlosser; Leonardo Morlino, editors, International Encyclopedia of Political Science, volume 1, SAGE Publications, →ISBN, page 1491:
An economic crisis basically means that producers have miscalculated the amount and type of goods consumers are willing to buy. The consequence is an uncleared market and, in case of a deepening crisis, a further extension of unsold products. […] Such economic crises can be caused and intensified by financial crises […] .