ECONOMICS (CBSE/UGC NET)

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ECONOMICS

BUSINESS CYCLES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The business life-cycle is a ____ of the series of stages that can be applied to the ____ of activity that a business conducts.
A
overview, types
B
representation, duration
C
overview, duration
D
representation, types
Explanation: 

Detailed explanation-1: -Every business goes through four phases of a life cycle: startup, growth, maturity and renewal/rebirth or decline. Understanding what phase you are in can make a huge difference in the strategic planning and operations of your business.

Detailed explanation-2: -Manage the five stages of a business life cycle with technology. So, what are the five stages of a business life cycle? Whether you’re at seed, startup, growth, expansion or exit, you’ll need to have strong entity management and an ability to interrogate real-time entity data that you know is accurate and up to date.

Detailed explanation-3: -The 4 stages of the product life cycle are introduction, growth, maturity, and decline. Learn how to leverage this into your business strategy.

Detailed explanation-4: -It is referred to as the product life cycle or PLC. It (PLC) identifies and explains four stages of product development-introduction, growth, maturity, and decline.

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