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business cycle The business cycle or economic cycle refers to the ups and downs seen somewhat simultaneously in most parts of an economy.Economy fluctuates over time , many factors can cause fluctuates,these fluctuates are called business cycles.The cycle involves shifts over time between periods of relatively rapid growth of output (recovery and prosperity), alternating with periods of relative stagnation or decline (contraction or recession),or we can also call boom, slump, recession and recovery.These fluctuations are often measured using the real gross domestic product. BOOM: A period of fast economic growth. Output is high due to increased demand, unemployment is low. Business confidence may be high leading to increased investment. Consumer confidence may lead to extra spending. SLUMP: A period when output slows down due to a reduction in demand. Confidence may begin to suffer. RECESSION: A period where economic growth slows down and the level of output may actually decrease. Unemployment is likely to increase. Firms may lose confidence and reduce investment. Individuals may save rather than spend. RECOVERY: A period when the economy moves between recession and a boom. when the recession reach the bottom,depression ccomes.It is the lowest point of the economy. From 1919 to 1928, the economy experienced a prosperity, after world war I, the soldiers came home with money,and they start to by things. The factories produced many goods to meet the rising demand. Thousands of goods were produced everyday.When people spent up their money to by things they need, their affordabilities reduced,while factories continued producing goods.the quality of the goods are so nice that many people need not to change after a long time.Then more goods in the market could not be sold.That led to a smash up of the enterprises.the unemployment rates growed,wages reduced, more people could not by goods.A recession came,the economy decresed without any control.From 1929 to 1933, a great depression struck the whole world. Low wages , high rates of unemployment,reduced consumer spending and decreased business activities.after 1933, the NEW DEAL let the government control the market.It became reocvered.the economy started to grow. Reference list: Management Economics: Define 'Business cycle'[online] accessed on 5-12-2006,available at (https://www.cheathouse.com/essay/essay_view.php?p_essay_id=63415) Business and trade cycle [online] accessed on 5-12-2006,available at (http--www_tutor2u_net-economics-gcse-images-big_picture_business_cycle_gif.htm 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。