economic condition

Noun
  1. The condition of the economy (synset 114512178)
    is a type of: condition, status - a state at a particular time
    subtypes:
    • recession - the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
    • depression, economic crisis, slump - a long-term economic state characterized by unemployment and low prices and low levels of trade and investment
    • full employment - the economic condition when everyone who wishes to work at the going wage rate for their type of labor is employed
    • prosperity - an economic state of growth with rising profits and full employment
    • softness - a state of declining economic condition
    • shakeout - an economic condition that results in the elimination of marginally financed participants in an industry
    • wage setter - any economic condition or variable that serves to set wage rates

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