BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What Is a Boom? A boom refers to a period of increased commercial activity within either a business, market, industry, or economy as a whole. For an individual company, a boom means rapid and significant sales growth, while a boom for a country is marked by significant GDP growth.

Detailed explanation-2: -In the United States the fifteen-year economic expansion that began in 1982, now called “the long boom” by economists, is the greatest economic boom in history–and it is still going.

Detailed explanation-3: -The boom and bust cycle is a key characteristic of capitalist economies and is sometimes synonymous with the business cycle. During the boom the economy grows, jobs are plentiful and the market brings high returns to investors. In the subsequent bust the economy shrinks, people lose their jobs and investors lose money.

Detailed explanation-4: -The term economic boom generally refers to countries or regions enjoying positive overall performance. It is seen like a phase of optimism, confidence and development. For example, there was a boom in the United States during the 1920s when the Gross National Product grew 40% from 1921 to 1924.