asked 30.1k views
2 votes
Give three examples or situations of how people lost everything economically.

a) Stock market crashes
b) Bankruptcy
c) Economic recessions
d) Inflation

asked
User NoxelNyx
by
7.8k points

1 Answer

6 votes

Final answer:

People can lose everything economically in various ways, such as through stock market crashes, bankruptcy, economic recessions, and inflation. These situations can result in financial loss, declining consumer confidence, bank failures, and unemployment.

Step-by-step explanation:

There are several examples of how people can lose everything economically. One example is when there is a stock market crash, which can hurt consumer and business confidence, leading to financial loss. Another example is bankruptcy, where individuals or businesses are unable to pay their debts and lose their assets. Economic recessions can also cause people to lose everything, as they result in a decline in consumer spending, bank failures, and unemployment. Lastly, inflation can erode people's purchasing power and lead to financial loss.

answered
User FrancescoMussi
by
8.4k points
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