Economic collapse refers to a sudden and severe decline in a country's economy, often characterized by a significant drop in gross domestic product (GDP), high unemployment rates, and widespread business failures. This situation can arise from various factors, including financial crises, excessive debt, or political instability. When an economy collapses, it can lead to a loss of public confidence and a decrease in consumer spending. During an economic collapse, essential services may be disrupted, and the value of currency can plummet, leading to hyperinflation. Governments may struggle to provide support, and social unrest can increase as people face hardships. Historical examples of economic collapse include the Great Depression and the hyperinflation in Weimar Germany.