Xerxus asked in Social ScienceEconomics · 1 decade ago

What are some good industries that prosper during a depression?

If a depression were to hit what industries would be able to survive?

I suppose your High end luxury items establishments would be the first to go but who would last?

6 Answers

  • Iguana
    Lv 5
    1 decade ago
    Favourite answer

    I once heard this on a news cast.

    Bars...Bars will do good during tough times, because people seek a release from the reality of their economic woes.

    Automobile repair...This line of work will do better during tough economic times, as there are fewer new vehicles sold, and older vehicles tend to need repair constantly.

    Auto parts stores....Same as above.

    Resale shops and Second hand stores... These places sell mainly used clothing, Why go to K mart and pay $20 for a shirt when you can get something in great condition for $1.50

  • Anonymous
    1 decade ago

    Perhaps the luxury items would be the last to go because the affluent have reserves to spend which the average person does not. I got a huge laugh this week-end out of reading Vogue - amazing degree of materialism and superficiality. The only industries that would survive would be those absolutely essential to our survival and even they would suffer.

    Ask yourself what you would do if you lost your job tomorrow. Even with state unemployment income, you would be forced to eliminate all non-essential expenses: cable, internet, entertainment, charitable contributions. After unemployment runs out, you're running on empty: no money for car, mortgage, or even groceries sometimes.

  • 1 decade ago

    Alot of these other answers are "MAYBE" and "What if" answers.

    no offense, but the true, SURE answer to this question is....

    the ENERGY industry. Energy is an inelastic service/product, meaning that no matter what the cost, or economic situation is, there will always be a high demand for it, because most other sectors of the economy, and the country, are dependent on energy to run their facilities.

  • Anonymous
    1 decade ago

    Can't think of the name offhand,but those in the business of foreclosure.Like now so many are losing their homes.

    Pawn shops tho not an industry will prosper as those desperate will be going there in search of ready cash.

    Auto mechanics & other maintainance companys will definately prosper.

    Too tired to think of more..Curious as to the other replies..

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • Anonymous
    1 decade ago

    Gold Dealers. Start selling Gold Coins.

  • 1 decade ago

    Soup makers will make money as people will only have money for soups as no meat will be to much available.Funeral homes will make a killing also as people will die' and we need a place to put them.

Still have questions? Get answers by asking now.