Economic events refer to significant occurrences that impact the economy, such as changes in employment rates, inflation, or shifts in consumer spending. These events can be triggered by various factors, including government policies, natural disasters, or global market trends. For example, a sudden increase in oil prices can lead to higher transportation costs, affecting the prices of goods and services. Another type of economic event is a recession, which is a period of declining economic activity. During a recession, businesses may close, and unemployment rates often rise. Governments may respond with stimulus packages or monetary policy adjustments to encourage growth and stabilize the economy.