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The business cycle or economic cycle refers to the ups and downs
seen somewhat simultaneously in most parts of an economy. 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). These fluctuations are often measured
using the real gross domestic product. To call those alternances "cycles" is
rather misleading, as they don't tend to repeat at fairly regular time
intervals. Most observers find that their lengths (from peak to peak, or from
trough to trough) vary, so that cycles are not mechanical in their regularity.
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Is economic growth necessary for economic development?
Economic growth is necessary for economic development but not a sufficient proof of economic development. The improvement of people's living condition is a greater assessment of economic development.
What is the definition of economic fluctuations?
regressions and expansionsA sequence of economic activity typically characterized by recession, fiscal recovery, growth, and fiscal decline.
What is economic growth and why is it necessary?
Economic growth is a term to show the GDI increase. However, not everyone would consider it necessary.GDI = Gross domestic increase
What is the business cycle?
A recurring cycle of booms and busts, recoveries and recessions
What is necessary for economic growth?
the first and formost aspect in economic growth is human resource development..as we will do more investment in human capital by investing particularly in education and health, we ll get more growth in our economy..to develop the human resources is most important
The absence of cyclical unemployment is evidence that?
the economy is operating at full employment. Cyclical unemployment refers to the fluctuations in unemployment that are caused by economic downturns or recessions. When there is no cyclical unemployment, it suggests that the economy is in a state of stable growth and there are enough job opportunities available for those seeking employment.
Is economic growth necessary for economic development?
Economic growth is necessary for economic development but not a sufficient proof of economic development. The improvement of people's living condition is a greater assessment of economic development.
What is the definition of economic fluctuations?
regressions and expansionsA sequence of economic activity typically characterized by recession, fiscal recovery, growth, and fiscal decline.
What is the main idea of monetarianism?
Monetarism is a school of economic thought that emphasizes the role of government control over the money supply to achieve economic stability and growth. It argues that fluctuations in the money supply are the primary cause of economic fluctuations, and advocates for central bank intervention to control inflation and stabilize the economy.
What is economic growth and why is it necessary?
Economic growth is a term to show the GDI increase. However, not everyone would consider it necessary.GDI = Gross domestic increase
What is the business cycle?
A recurring cycle of booms and busts, recoveries and recessions
What is necessary for economic growth?
the first and formost aspect in economic growth is human resource development..as we will do more investment in human capital by investing particularly in education and health, we ll get more growth in our economy..to develop the human resources is most important
Is industrialization is a necessary evil?
yes industrialization is a necessary evil as we need industrialization to improve our economic growth but it is also degrading our environment as well as mankind.
Is industrialization a necessary evil?
Industrialization is not inherently an evil, but it can have negative consequences if not managed properly. It has led to advancements in technology, increased productivity, and improved standards of living for many people. However, it has also contributed to environmental degradation, exploitation of workers, and income inequality. Balancing the benefits with the drawbacks is crucial in ensuring sustainable development.
Which refers to the fluctuations of growth and decline in an economy?
business cycle
Are there types of economic growth?
Types of economic growth: There are two types of economic growth: 1.Balanced Economic Growth 2.Un-balanced Economic Growth 1.Balanced Economic Growth: All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth. 2.Un-balanced Economic Growth: When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.
similarities of economic growth and development?
economic growth
