Examlex
What are the two different types of costs a company incurs? Explain with examples.
Automobile Industry
A global sector that encompasses the design, manufacturing, marketing, and selling of motor vehicles, one of the world's most important economic sectors.
Trough
The transition point between recession and recovery.
Business Cycle
The economic cycle that involves periods of economic expansion, peak, contraction, and trough.
Contraction
A period of economic decline marked by falling GDP, reduced consumer spending, and increased unemployment.
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