boom-and-bust adjective 1boom and bust noun 1forms 3 adjective1 •Featuring or characterized by a boom and bust cycle in a market or an economy, in which rapid price increase is followed by falling prices or recession.The continued boom‐and‐bust cycles in support of education and research constitute a costly waste of the nation's human resources. — 1973 boom and bust noun1 •A pattern of high prices in a given market or in the entire economy followed by ruinously low prices, falling production, and bankruptcies by producers; prosperity followed by recession. formsbooms and busts · more boom-and-bust · most boom-and-bust