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What Is an Organizational Life Cycle

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What is an organizational life cycle?


Definitions:

Circular-Flow Diagram

A graphical outline that tracks the flow of monetary resources through markets, between companies and household sectors.

Households

Economic units consisting of all individuals who live together and make joint decisions regarding consumption and other financial matters.

Businesses

Entities engaged in commercial, industrial, or professional activities with the goal of generating profits.

Product Market

A marketplace where final goods or services are offered to consumers, businesses, and the public sector.

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