A recession is a period of economic decline that is characterized by a decrease in economic activity, a rise in unemployment, and a fall in asset prices. Recessions can be caused by a variety of factors, including financial crises, natural disasters, and wars. The effects of a recession can be devastating, as they can lead to job losses, business closures, and a decline in living standards.
Combating a recession requires a multifaceted approach that addresses both the causes and the effects of the downturn. Governments can implement fiscal and monetary policies to stimulate economic growth and create jobs. They can also provide financial assistance to businesses and individuals who have been affected by the recession. In addition, governments can invest in infrastructure and education to create long-term economic growth.