The Business Cycle Consists of Four Phases

question 146

Multiple Choice

The business cycle consists of four phases. At the top we have:

• A) recovery, followed by peak, and then recession followed by a recession.
• B) recovery, followed by a recession, and then peak followed by recession.
• C) peak, then an upturn followed by a recession, and then recession.
• D) peak, then a recession followed by expansionary, and then recession.
• E) peak, then a recession followed by recession, and finally, expansionary.

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Definitions:

Ingredient Cost

The cost of raw materials used to produce a product or dish.

Management Process

The application of planning, organizing, staffing, leading, and controlling to the achievement of objectives.

Illiteracy

The inability to read and write, affecting an individual's ability to participate fully in society and the workforce.

Productivity

A measure of the efficiency of a person, machine, system, or industry in converting inputs into useful outputs.