Basic General Knowledge
Recession is

period during which unemployment may rise and demand and output may fall, leading to slump in trade
All of these
period that results from accumulation of unsold goods, owing to fall in demand
slowing down of economic activity over a limited period

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Basic General Knowledge
Free market is

market where the price of a commodity is determined by free play of the forces of supply and demand
a condition in the international market where nations do not impose customs duty or other taxes on import of goods
ports that are exempted from payment of customs duty on articles of commerce, primarily to encourage tourism
None of these

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