Recession in the market implies _____________.

a slump in trade and industry due to fall in demand

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an increase in trade and industry due to rise in demand

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no change in trade and industry due to stability in demand

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None of these

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Solution

The correct option is A a slump in trade and industry due to fall in demand
Recession in the market implies a slump in trade and industry due to fall in demand. During recession period, the economy faces a low-equilibrium trap. It means that because of less demand and less consumption expenditure, the output and employment level of the economy also fall.

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