19:43
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Simple English definitions for legal terms
slump
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A quick definition of slump:
Term: SLUMP
Definition: A slump is when the economy and the stock market are not doing well. This means that the prices of things you can buy with your money, like stocks, are going down. It's like when you have less money to buy things you want because the prices are too high.
A more thorough explanation:
Definition: A slump is a temporary period of economic decline, especially in the stock market, where prices fall.
Example: The stock market experienced a slump in 2008 due to the global financial crisis.
Explanation: During a slump, the economy experiences a decline in growth, and this can lead to a decrease in the value of stocks and other investments. The example illustrates how the stock market can be affected by a slump, causing investors to lose money.