GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A recovery
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A recession
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A boom
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A slowdown
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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: -The period of high income, output and employment has been called the period of expansion, upswing or prosperity, and the period of low income, output and employment has been described as contraction, recession, downswing or depression.
Detailed explanation-3: -Boom: this phase is also known as prosperity or peak. During this phase growth level is maximum. Income, demand, investments and profits are high. Recession: this phase comes after the phase of boom when economic activities have reached the highest level it is then followed by a slow down.