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