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Recession vs Economy - What's the difference?

recession | economy |

As nouns the difference between recession and economy

is that recession is the act or an instance of receding or withdrawing while economy is effective management of the resources of a community or system.

As an adjective economy is

cheap to run; using minimal resources; representing good value for money.

recession

English

(wikipedia recession)

Noun

(en noun)
  • The act or an instance of receding or withdrawing.
  • * Jeremy Taylor
    • Mercy may rejoice upon the recessions of justice.
  • A period of reduced economic activity
    • ''Statisticians often define a recession as negative, real GDP growth during two consecutive quarters.
  • The ceremonial filing out of clergy and/or choir at the end of a church service.

    • Synonyms

    * (receding) withdrawal * (ceremonial) return procession

    Antonyms

    * (period of reduced economic activity) boom

    Derived terms

    * recessionary * recessionista

    economy

    English

    Alternative forms

    *

    Noun

    (wikipedia economy) (economies)
  • Effective management of the resources of a community or system.
  • Collective focus of the study of money, currency and trade, and the efficient use of resources.
  • Frugal use of resources.
  • * Jonathan Swift
    • I have no other notion of economy than that it is the parent to liberty and ease.
  • The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
  • * {{quote-magazine, date=2013-08-31, volume=408, issue=8851, magazine=(The Economist)
    • , title= Horns of a trilemma , passage=An economy open to free movement of capital can keep a fixed exchange rate, for example, only by subjugating monetary-policy goals to its defence—by raising interest rates sharply, say, when capital outflows put downward pressure on the currency. Yet the trilemma also implies that an economy can enjoy both free capital flows and an independent monetary policy, so long as it gives up worrying about its exchange rate.}}
  • (theology) The method of divine government of the world.
  • (archaic) Management of one’s (l).

    • Derived terms

    * collaborative economy * command economy * economic * economical * economist * economize * market economy * peer-to-peer economy * planned economy * sharing economy

    Related terms

    * economics ** macroeconomics ** microeconomics

    Adjective

    (-)
  • Cheap to run; using minimal resources; representing good value for money.
    • "He bought an economy car."
    "Economy size".

    Anagrams

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