Why is an economic depression bad for consumers even though prices are cheaper?

Question

Why is an economic depression bad for consumers even though prices are cheaper?

In: 88

Answer 1

An economic depression is bad for consumers because it leads to widespread unemployment and financial insecurity. Even though prices may be cheaper, many people lose their jobs, making it difficult to afford even basic necessities. The lack of stable income creates uncertainty and stress, impacting people’s overall well-being and ability to meet their essential needs.