Week 3_2 Business Cycle

Get to know Basic Concepts:

-- The circular flow of income is not constant. The economic performance of an economy varies.

Boom: period of significant output within an economy; high GDP

Recovery: high level of growth in GDP

Recession: period of economic slowdown; GDP falling

Slump: low level of economic activity: low GDP

Question:

Can you find out when there is an economic recession?

Discuss with fellow students in Discussion Forum.

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