Examlex
The recession of 2007-2009 began in ________,with the end of the economic expansion that had begun in ________.
Free Market
An economic system in which prices are determined by unrestricted competition between privately owned businesses.
Economic Growth
The increase in the inflation-adjusted market value of the goods and services produced by an economy over time, often measured as the percentage increase in real gross domestic product (GDP).
Neoclassical School
An economic theory that emphasizes the role of supply and demand in determining the price and quantity of goods and services offered in a market, focusing on rational behavior and equilibrium.
Capitalism
An economic system where private individuals own and control trade and industry instead of the state.
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