deflation
Definitions
General Science
- noun the act or an instance of allowing air to escape from something such as a tyre or balloon so that it becomes smaller or collapses
Accounting
- noun a general reduction in economic activity as a result of a reduced supply of money and credit, leading to lower prices
Economics
- noun reduction in economic activity, resulting in falls in output, wages, prices and similar effects, either caused by a fall in demand or created when a government reduces money supply or lowers interest rates.
Politics
- noun the economic situation when prices fall
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