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Impact of Economic Recessions on Discretionary Spending
During broad economic downturns, such as the great recession, households and businesses often reduce their spending on non-essential items, often called discretionary spending. For example, the demand for services like bespoke website design fell, leading to the failure of businesses that relied on such contracts.
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Economics
Economy
Introduction to Macroeconomics Course
Ch.3 Aggregate demand and the multiplier model - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
CORE Econ
Social Science
Empirical Science
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Impact of Economic Recessions on Discretionary Spending
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Learn After
An economy experiences a widespread increase in unemployment and a sharp decline in overall consumer confidence. Based on typical household and business behavior in such a situation, which of the following industries is most likely to suffer the most significant drop in sales?
Business Performance During an Economic Downturn
Consumer Behavior During Economic Downturns
An economy is experiencing a period of rising unemployment and declining consumer confidence. For households facing tighter budgets, match each product to the most likely change in its demand.