What is the term for a period of economic activity when income,production,and employment tend to fall,reducing overall demand?

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A recession is a period of economic activity where there is a decline in income, production, and employment leading to a reduction in overall demand. This typically results in a slowdown of economic growth and may last for several months or years. Stagflation refers to a combination of stagnant economic growth and inflation. An inflation is a steady increase in the general price level of goods and services in an economy. A depression is a severe and prolonged economic downturn characterized by high levels of unemployment, low economic output, and steep declines in prices, wages, and profits.

What Is the Term for a Period of Economic Activity