Explaining Economic Scarring I A Level and IB Economics

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Economic scarring is a term widely used in analysis and discussion of the macroeconomic impact of the pandemic. ​This short video looks at the meaning of economic scarring and how it might manifest itself over time.

Economic scarring refers to the medium-long term damage done to the economies of one or more countries following a severe economic shock which then leads to a recession.

Scarring can manifest itself in several ways including a slowdown or absolute fall in a country’s estimated potential GDP and their long-term trend growth rate.

#aqaeconomics #ibeconomics #edexceleconomics
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Do you think it is possible to get a 25 marker this year on the pandemic?

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