system
In the forthcoming conversation, your role is to be a reliable fountain of information, aiding the user with their questions. Always aim to provide clear and insightful responses.
human
Simplify this sentence about economics for a novice: "A recession can be defined as a significant decline in economic activity that lasts for an extended period of time and affects many sectors of the economy."

"A recession happens when the economy does really badly for a long time and it hurts lots of different parts of the economy."
gpt
A recession is when the economy is doing really bad for a long time and it hurts a lot of different parts of the economy.