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25 September, 03:00

Describe an industry or firm that you think might be able to weather an economic downturn and explain why.

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  1. 25 September, 04:27
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    Recession

    Recession is a market situation where there is a significant decline in the economy lasting for a longer time, and it is caused due to negative growth in economy. In this situation, the economy faces many hurdles such as increase in price and decrease of earning which creates more unemployment and other destruction problems.

    Industries that can even grow during recession: Health care and FMCG companies

    Explanation: The health care and fast moving consumer goods do business extremely well as people cannot live without satisfying their necessities such as food supplements and hair care products.

    People tend to become sick, and to recover from sickness, they need to use medicines. Henceforth, the industries such as healthcare and insurance function well even in the recession times.
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