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"Economic activity" is a basic concept in Economics. An online dictionary defines it as "the activity of producing, buying, or selling products or services".
by BurningFrog 4y ago
"Economic activity" is a basic concept in Economics.
An online dictionary defines it as "the activity of producing, buying, or selling products or services".
- s1artibartfast 4y agoWhich means nothing. Is 10 people collecting acorns and trading beads more economic activity than 9 people making and selling jet planes?
- BurningFrog 4y agoLike I said, this is a basic concept in a big academic field. There are detailed answers to all these questions if you care to study it.
- koboll 4y agoThis entire line of argument over whether we are in a technical recession is pointless and dumb. We are in a uniquely weird economic situation that is clearly bad but less bad than a typical recession, and it would be improved if inflation fell.
- s1artibartfast 4y agoWell I think aligning on that is kind of the point. For most people growth means that the economy is getting better and recession means that the economy is getting worse. Maybe you are right and the word recession has become too politicized to use to describe the different scenarios. That said, if you were in a plane losing altitude and other people thought it was in fact gaining altitude, this would be a cause for debate
- sanderjd 4y ago> For most people growth means that the economy is getting better and recession means that the economy is getting worse. That's a fine shorthand, but the reason the standard data and interpretation of it matters is that otherwise all you have is what people feel about the economy, which is not very useful information.