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inna [77]
3 years ago
14

Cashland's banking system recently crashed. This eventually led to companies being unable to borrow money to run their businesse

s and employees needed to be terminated. These circumstances cut into consumer's purchasing power, causing a severe decline in the prices of goods and services, better known as _______.
Business
1 answer:
Andre45 [30]3 years ago
6 0

Answer:

Deflation

Explanation:

According to my research on different studies conducted by economists, I can say that based on the information provided within the question this is better known as Deflation. This term refers to a decrease in general price level of goods and services because of a certain financial crash. Which in this scenario it was caused by the Cashland's banking system crashing.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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