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What is the difference between a reccession and a depression?
Recession refers to a temporary economic decline whereas a depression is a period of prolonged downturn in economic activity
What is the difference between global economy and international economy?
There is no functional difference; they are the same thing, though they may be applied to differentiate between economic activity between certain groups of states and the world as a whole.
What is the difference between recession and inflation?
Recession is a period of economic decline characterized by a decrease in economic activity, while inflation is a general increase in prices of goods and services.
Non economic activities and its examples?
What is the difference between economic and non economic activities.?
Explain the difference between primary secondary and tertiary economic activities?
primary economic activity is when you take or use natural resources directly from the earth.for example:mining, logging, drilling for oil, fishing, and farming. Secondary economic activity is when you use raw materials to produce something new. for example: John Morells, Carpenter
