The Following fiGure Shows the Business Cycle for an Economy

question 3

Multiple Choice

The following figure shows the business cycle for an economy over time. Refer to the figure to answer the question. An economic boom in the country is represented by _____.

• A) point A
• B) point B
• C) point C
• D) point D

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Definitions:

Innovations

The introduction of new ideas, goods, services, or processes which improve upon the existing standards, often leading to competitive advantage.

Crossing the Chasm

A marketing theory that describes the challenge of transitioning from early adopters to a broader mainstream market.

Consumer

An individual who purchases goods and services for personal use.

Customer

Someone who pays for a product or service.