Article on recession

The word recession in economics is defined as a period of two quarters of negative GDP* growth. *Gross domestic product: the total market value of all final goods and services produced in a country in a given year is GDP. As many know today the world is facing a recession. We at our skool held a little survey to see wheather the children were aware of this and how had recession affected them. The few questions asked were :

Q1. Are you aware that there is recession facing the world? Q2.What do you think recession means? Q3.Has this affected you in any way? Tick the following boxes I have experienced a cut in the following Pocket money Movies Visits to barista and caf coffee day Books Clothes/shoes/trinkets/bags Lunches with friends Holiday and travel plans Study abroad plans Drives (useage of petrol/diesel) Q4.Have your parents increased the pressure on you to study n get a good job? Q5.If you are paid rs 50 /hr would you spend an extra hour every day to (tick the following) 1. label school books n help in the library 2. tutor kids at school /at home 3. wash a car 4. baby sit for other people

the answers that we got were: in Q1 100%knew that the world was facing recession For Q2 the ans were varied 37.5%belived that recession was negative gdp growth 37.5% believed that recession was when stock markets crashed and people stopped investing in shares 25% believed that a downward trend in the economy was recession

w hat do you think recession m eans? negetive gdp grow th

stock markets crash and people stop investing in shares dow nw ard trend in the economy

For the next question the children said that they did get affected by recession 25% felt their pocket money affected 75%felt that their holiday and travel plans got affected 37.5%felt that they have reduced their visits to cafes after recession hit 25%felt that recession has affected their plans to study abroad 37.5%felt a crunch to spend money on clothes bags trinkets etc In Q4 62.5% of the people we surveyed said that their parents increased te pressure on them to study harder and get a good job whereas 37.5%said that their paents have never pressurized them and have given them the freedom to follow a carrier they desire in the last question we tried to find out if given a chance to make some extra cash what would the children not mind doing and the answeres were quite astonishing as we thought no one would be willing but 62.5%thought baby sitting would be a good option 37.5%thought tutoring 25% thought washing a car and 25%thought labling school books. This survey not only astonished us but the children themselves that during a time of recession how everyone was compromising as well as cutting down this was like an eye opener to them.