Business Cycle
What is the Business Cycle
The Quantity of goods and services consumers are willing to purchase at any given time
What is demand
Is synonymous with natural resources
What is Land
The First Stage in the Business Cycle
What is Prosperity
The quantity of goods and services sellers are willing to offer at any given time
What is Supply
Buy goods and services from producers
Who are distributors
The second stage of the business cycle
What is Recession
Increased Prices=Decreased demand
What is the law of demand
Buy goods and services from distributors
Who are consumers
The third stage of the business cycle
What is Depression
Basic Economic problem
What is demand is greater than supply
Furthers Production with the use of manufactured instruments
What is Capital
The final stage in the business cycle
What is Recovery
When supply and demand are equal
What is equilibrium
Turn economic resources into factors of production
Who are producers