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GCSE Geography · key term
A period of declining economic activity, usually accompanied by reduced spending and production.
Used by Edexcel
Paper 3
Revise: Factors Affecting Oil Supply, Prices and TrendsA recession reverses this pressure. Lower spending and business activity reduce the need for manufacturing and transport, so oil demand falls. If producers continue supplying similar quantities, an oversupply can develop and prices fall.
A graph shows changes, not their causes. Use contextual evidence before linking a price movement to a particular conflict or recession.
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