Business Cycles & Growth
Representation concerning the patterns of expansion and contraction in the economy
Business Cycle
Businesses which develop products for distribution from raw goods
Producers
cooperative action of a group of people in order to achieve a goal
Teamwork
An organization that generates revenue
For-Profit Business
The connection made among nations when economies freely move goods, labor, and money across borders
Globalization
Increase in the key measurements of aggregate economic activities such as employment
Growth
materials derived from natural resources
Raw goods
Act of working effectively with others to achieve a common goal
Collaboration
An organization that exists to serve some public purpose
Not-for-Profit
The shared beliefs, customs, practices, and social behavior of a particular group or nation
Culture
Period in which business activity has reached a maximum
Peak
Businesses which change raw goods into a more finished form, known as processed goods
Processors
Knowledge and abilities one gains throughout life
Skills
Businesses that create goods and services
Producer
The buying and selling of goods and services across national borders
International Trade
Two consecutive quarterly declines in gross domestic product
Peak
Manufacturers
Natural abilities an individual is born with
Talents
Businesses or people that take natural resources from the land
Extractor
Goods and services that are produced within a country's boarders and sold in another country
Exports
Lowest levels experience during a recession
Trough
Businesses which move finished goods from one business to another by buying, storing and reselling goods
Intermediaries
Abilities and process of motivating people toward a common goal
Leadership
Earns profits by providing consumers with services that meet their needs and wants
Service Business
Is the difference between a nation's exports and its imports
Balance of Trade