ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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does not greatly affect sports and entertainment businesses.
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is a well-defined, predictable pattern in the U.S. economy.
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refers to the ups and downs of the economy.
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all of the above
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Detailed explanation-1: -Economists use the term business cycle to describe the ups and downs, or fluctuations, in an economy. More specifically, the term refers to the fluctuating levels of economic activity over a period of time measured from the beginning of one recession to the beginning of the next.
Detailed explanation-2: -The alternating phases of the business cycle are expansions and contractions (also called recessions). Recessions often start at the peak of the business cycle-when an expansion ends-and end at the trough of the business cycle, when the next expansion begins.
Detailed explanation-3: -Every nation’s economy fluctuates between periods of expansion and contraction. These changes are caused by levels of employment, productivity, and the total demand for and supply of the nation’s goods and services. In the short-run, these changes lead to periods of expansion and recession.
Detailed explanation-4: -Business cycle refers to a term that is used to describe the periodic increase and decrease in the economic growth of a particular economy. Business cycles usually occur within a short term.
Detailed explanation-5: -The business cycle is a term used by economists to describe the increase and decrease in economic activity over time. The economy is all activities that produce, trade, and consume goods and services within the U.S.-such as businesses, employees, and consumers.