Describe the "Boom-Bust" Economic Cycles of Mining, Cattle Ranching, and Farming

question 43

Essay

Describe the "boom-bust" economic cycles of mining, cattle ranching, and farming. What economic and environmental factors contributed to this pattern? How did these cycles affect settlers in the West?

---

Definitions:

Macro Process

Broad and comprehensive processes that encompass multiple business functions or organizational areas, often at a strategic level.

SRM

Supplier Relationship Management; the practice of strategically planning for and managing all interactions with third-party organizations that supply goods and/or services.

Pull Processes

Manufacturing or production processes initiated by actual customer demand rather than forecasting, aiming to reduce inventory and increase efficiency.

Speculative Processes

Refers to procedures or methods based on conjecture rather than knowledge, often used in finance or trading to make decisions based on potential future events.