Economic Challenge

Definition

An economic challenge refers to a difficulty or obstacle that a country faces in its economic system, which can negatively impact its overall development and stability. It often requires strategic planning and policy implementation to address.

Related terms

Income Inequality: Income inequality refers to the unequal distribution of income within a society, where some individuals or groups have significantly higher incomes than others.

Unemployment: Unemployment is the state of being without work but actively seeking employment. It indicates an underutilization of labor resources within an economy.

Fiscal Deficit: Fiscal deficit occurs when a government's spending exceeds its revenue in a given period, leading to borrowing and accumulating debt.