Economic Conditions

Definition

Economic conditions refer to the state or health of an economy at a given time. Factors such as employment rates, inflation levels, GDP growth, and income distribution can all contribute to economic conditions.

Related terms

Inflation: Inflation refers to the general increase in prices over time. When inflation is high, it erodes purchasing power.

Unemployment Rate: The unemployment rate is the percentage of people who are actively seeking employment but cannot find jobs.

Gross Domestic Product (GDP): GDP is a measure of all goods and services produced within a country's borders over a specific period. It indicates the overall economic activity of a nation.