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Analyze the impact of production and sales levels on income.
Understand how to construct and interpret common size financial statements.
Understand the concept of trend analysis using base years in financial statements.
Learn the breakdown and components of Return on Assets (ROA).

Definitions:

Service Sector

The segment of the economy that provides intangible goods such as healthcare, entertainment, and professional services, as opposed to manufacturing or agriculture.

Higher Productivity

An increase in the efficiency of production, characterized by a greater output of goods and services for the same amount of input.

Economy

The system of production, distribution, and consumption of goods and services in a particular geographic region or country.

Business Cycle Dating Committee

A group of economists that determines the dates of the beginning and end of recessions, marking the business cycle's phases.

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