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economic crisis

Noun CEFR B2

Definitions

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.

Equivalents

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CEFR level

B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
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See also

economic determinism economic emigrant economic equilibrium economic freedom economic growth economic human

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