GROWTH DEVELOPMENT CHILD
GROWTH AND DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A cycle of work hard and not work in the economy
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A cycle of balance in the economy
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A cycle of highs and lows in the economy
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None of the above
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Detailed explanation-1: -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-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: -A boom and bust cycle refers to a series of fluctuations in an economy in which there are persistent expansion and contraction of the economy. Boom and bust cycles affect different sectors and industries in an economy, for instance, when it occurs in the business cycle, businesses undergo fluctuations.
Detailed explanation-4: -Boom-bust dynamics are characterized by long periods of almost exponential growth (boom) and a subsequent population crash due to competition (bust).