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Which phase in the business cycle occurs when the economy shrinks due to a decline in production of goods and services?
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This is called a 'recession.'
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∙ 8y ago
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Which refers to the fluctuations of growth and decline in an economy?
business cycle
What are the production distribution and consumption of goods and services?
An economy is a system for producing goods and services.
A decline in business activity that is not as severe as a depression is called?
A recession is a decline in business activity that is not as severe as a depression. The economy will be determined to be in a recession if there has been a decline in the GDP for two consecutive quarters.
What is the production and trade of good and services?
It's economy
What are the two sectors model economy?
The two sector model consists of the: Household Sector: The household sector includes everyone in an economy who consumes goods and services. Business Sector: The business sector contains the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services.
Which phase in the business cycle occurs when the economy shrinks due to a decline in production in goods and services.?
This is called a 'recession.'
Which refers to the fluctuations of growth and decline in an economy?
business cycle
What are the production distribution and consumption of goods and services?
An economy is a system for producing goods and services.
A decline in business activity that is not as severe as a depression is called?
A recession is a decline in business activity that is not as severe as a depression. The economy will be determined to be in a recession if there has been a decline in the GDP for two consecutive quarters.
What is the production and trade of goods and services?
It's economy
What is the production of trade and goods of services?
It's economy
What is the production and trade of good and services?
It's economy
What are the two sectors model economy?
The two sector model consists of the: Household Sector: The household sector includes everyone in an economy who consumes goods and services. Business Sector: The business sector contains the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services.
What production is the current US economy is based primarily?
Services.
In a market economy what organizes and coordinates the production of goods and services?
Exchange
In market economy what organizes and coordinates the production of goods and services?
Exchange
What is the difference a free market economy and a mixed economy?
In a mixed-market econom, the government imposes regulations on the production of goods and services.
