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When economic activity slows, businesses typically experience reduced demand for goods and services, leading them to cut costs. One of the primary ways they do this is by laying off employees or freezing hiring, resulting in increased unemployment rates. Additionally, as consumers become more cautious with their spending during economic downturns, this further exacerbates the situation, creating a cycle of reduced consumption and higher unemployment. Consequently, the overall economic environment becomes more challenging for both individuals and businesses.
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What is a period when economic activity slows and unemployment increases called?
This period if time is known as a recession.
What is it called when business activity slows prices and wages drop and unemployment rises?
the business cycle
What is a Period when business activity slows and wages fall?
Economic depression.(:
Explain briefly the contribution of the factors of production to economic activity?
The faster that products can be made, the more economic activity that can occur. If the product production slows down, the economy will slow down as well.
What is a recession economy?
A recession is when the economic activity slows and people start losing their jobs and/or companies slow their hiring.
What is a period when economic activity slows and unemployment increases called?
This period if time is known as a recession.
A period when economic activity slows and unemployment increases is called a what?
America
What is a Period when business activity slows and wages fall?
Economic depression.(:
What is it called when business activity slows prices and wages drop and unemployment rises?
the business cycle
When the business cycle slows and causes an increase in unemployment for a short period of time the economy is experiencing a?
Bust or depression.
Explain briefly the contribution of the factors of production to economic activity?
The faster that products can be made, the more economic activity that can occur. If the product production slows down, the economy will slow down as well.
What is a recession economy?
A recession is when the economic activity slows and people start losing their jobs and/or companies slow their hiring.
What phase of the business cycle are the most people out of work?
The highest unemployment typically occurs during the recession phase of the business cycle. During this period, economic activity slows down, leading to decreased consumer demand, reduced business revenues, and subsequent layoffs. As companies struggle to maintain profitability, many are forced to cut jobs, resulting in increased unemployment rates.
Is inadequate economic growth a cause of unemployment?
Where economic growth in an economy slows down, it's never a good thing. The employable population in any economy needs to have jobs available in the economy. Growth will do this, however, slow growth will not keep up with the number of people seeking jobs, thus creating unemployment.
Which situation most likely results when the government raises interest rates to Banks?
Fewer citizens borrow money to buy houses or cars
What is the drug that slows down the activity of the nervous system?
A drug that slows down the activity of the central nervous system is called a depressant. Examples of depressants are Xanax, Librium and Amytal.
What is it called when the economic productivity of a country slows down for a short period of time?
Economic recession
