The Business Cycle
During this phase of the business cycle, wages are strong, production is high, and unemployment is low.
What is prosperity?
This term refers to creating something entirely new that did not exist before.
What is an invention?
This type of compensation increases based on the number of hours an employee works.
What is hourly?
This leadership style involves the manager making all decisions with little employee input.
What is autocratic?
This HR function involves attracting people to apply for open positions.
What is recruiting?
In this stage, prices increase and people increasingly become unable to pay for luxuries.
What is inflation?
This is the value of goods and services sold to other countries.
What is exports?
This is a set amount of money paid on a regular schedule, regardless of hours worked.
What is a salary?
Leaders using this style encourage employees to share ideas and participate in decisions.
What is participatory or democratic?
Reviewing résumés, interviewing, and testing applicants are part of this HR role.
What is selecting?
In this stage, companies often reduce staff and consumers cut back on spending.
What is recession?
This is the money owed by the Canadian government to other businesses, organizations and countries.
What is federal debt?
Real estate agents and salespeople often earn this percentage‑based form of income.
What is commission?
A “you figure it out” approach where employees receive minimal direction.
What is free rein or laissez faire?
Wages, salaries, and benefits fall under this HR responsibility.
What is compensating?
The worst stage of the economic cycle that can be avoided.
What is depression?
This is the percentage of goods Canada purchases from other countries.
What is imports?
This is a form of compensation that is usually additional to another form, often coming once a year or when the company makes more of a profit than they were expecting.
What is a bonus?
The first electric light bulb is an example of this concept.
What is an invention?
Setting standards and evaluating how well employees meet them belongs to this HR area.
What is assessing?
This is the correct sequence of the business cycle starting from the strongest point.
What is prosperity, inflation, recession, depression, recovery?
This is the ndicator of stock price movements for Canada
What is the S&P/TSX Composite Indicator?
This is the type of compensation Ms. Smith gets paid.
What is salary?
This occurs when an existing product or process is improved or made more efficient.
What is an innovation?
This ongoing process helps employees improve their abilities over time.
What is training and developing?