BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A boom is characterized by a period of rapid economic growth whereas a period of relatively stagnated economic growth is a recession. These are measured in terms of the growth of the real GDP, which is inflation-adjusted.

Detailed explanation-2: -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-3: -Trend line It shows the general direction in which the economy is moving. • It usually has a positive slope because the production capacity of a country. increases over time. • Economists look at the performance of the economy over the past few years and. then predict a future trend.

Detailed explanation-4: -An economic boom is an often-short-lived period of rapid growth of real GDP resulting in lower unemployment, accelerating inflation rate and rising asset prices. A boom occurs when real GDP is expanding much faster than the estimated trend rate of growth and this can lead macroeconomic overheating.

Detailed explanation-5: -A boom is a period of strong economic expansion where many businesses are operating at full capacity or above capacity, and the unemployment rate is very low. Income and production are at very high levels. This can lead to rapid growth in prices.