4.5.4 Causes & consequences of recession
Unit 4.5.4 - Causes and consequences of recession This section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand: The definition of recession Recall that economic growth can be shown diagrammatically by shifting an economy's production possibility curve (PPC) outwards to the right (see below). In the diagram below, economic growth is shown by the outward shift of the economy's PPC from...