Economic conditions refer to the state of an economy at a particular point in time. They encompass various indicators such as GDP growth rate, unemployment rate, inflation rate, consumer confidence, and business sentiment.
congrats on reading the definition of Economic conditions. now let's actually learn it.
Unemployment rate: The percentage of the labor force that is unemployed and actively seeking employment.
Consumer price index (CPI): A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Business cycle: The recurring pattern of expansion (growth) and contraction (recession) in an economy over time.