What causes economic bubbles? - Prateek Singh
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During the 1600’s, the exotic tulip became a nationwide sensation; some single bulbs even sold for ten times the yearly salary of a skilled craftsman. Suddenly, though, the demand completely plummeted, leaving the tulip market in a depression. What happened? Prateek Singh explains the peak of a business cycle, commonly referred to as a mania.
You have learned from this lesson what a "mania" is. Another small part of the entire business cycle can be a "depression" (Hint: the opposite of mania). Write a short paragraph comparing and contrasting a mania and a depression.
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Meet The Creators
- Educator Prateek Singh
- Director Simon Ampel
- Script Editor Charly Simpson
- Narrator Addison Anderson
