The Short-Run,but Sometimes Sharp,contractions and Expansions in Economic Activity Are

question 36

Multiple Choice

The short-run,but sometimes sharp,contractions and expansions in economic activity are called

• A)recession.
• B)stagnation.
• C)inflation.
• D)business cycles.

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Definitions:

Business Profits

The earnings of a business after subtracting all expenses from its total revenues, indicating the financial success of the business.

Sole Proprietorship

A business structure where one individual owns and operates the business, bearing unlimited liability for its debts and obligations.

Registered

The process of recording information or property, like trademarks or land, with an official agency to establish legal ownership and protection.

Licence

A non-exclusive right to use property; revocable permission to use another’s land.