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The system we have works on the assumption that for they're to be prosperity there must be expansion. So we have what is known as the percentage of economic growth. In good times this is often around 4% per year. That means that the amount of product and service carried out in a country is 4% bigger at the end of the year then it was at the beginning. When a country is having a recession it product has become smaller then it was last year. And if the same thing happens in a lot of countries it is called a world recession.
What else can I help you with?
Phases of the business cycle means?
Phases of business cycle means that at what stage of business cycle the business is currently is. These four phases are introduction, growth, maturity and recession and most of the companies of the world except wholesale businesses like australiawholesalers.com are passing through recession phase due to the current world economic crisis.
What are the components of business cycle?
The components of the business cycle is Prosperity, Recession, and depression.
Causes of recession in Zimbabwe. Link your answer to business cycles?
Recession in Zimbabwe, link your answer to business cycle
What come after period of recession in the business cycle?
Recovery
Which phases of the business cycle would be most closely associated with an economic contraction?
Recession
Phases of the business cycle means?
Phases of business cycle means that at what stage of business cycle the business is currently is. These four phases are introduction, growth, maturity and recession and most of the companies of the world except wholesale businesses like australiawholesalers.com are passing through recession phase due to the current world economic crisis.
What are the components of business cycle?
The components of the business cycle is Prosperity, Recession, and depression.
Causes of recession in Zimbabwe. Link your answer to business cycles?
Recession in Zimbabwe, link your answer to business cycle
What stage of the business cycle is Mexico in?
Right now it is starting a recession, as much as the rest of the world.
What phase of business cycle is Malaysia in now?
in recession
What come after period of recession in the business cycle?
Recovery
What come after a period of recession in the business cycle?
Recovery
Which phases of the business cycle would be most closely associated with an economic contraction?
Recession
What face of a business cycle can lead an economy into recession?
contraction
What phase in business cycle is south Africa?
Recession phase
What phase of the business cycle do employees lose their jobs to new applicants who are willing to accept lower wages?
recession
Put the phases of the business cycle in the correct order in which they follow a recession?
Depression Recovery Boom Recession
