Business cycle
Text z Príbehu
- Here, let me show you
- What's the business cycle?
- The first stage is Expansion
- Think of it like a wave that all economy's follow
- It is where there is a increase of economic activity
- What's the first stage?
- Indeed it is, but sadly things can only get worse
- The second stage is the peak
- This is right before decline when business is still booming
- Wow! this is great
- What's the second stage?
- The third stage is recession
- Sadly they can
- It is when a significant decline in economic activity spread across the economy
- Oh no! but things can't get worse, right?
- What's the third stage?
- It's a severe and prolonged downturn in economic activity
- The fourth stage is depression
- It will, but after this the next stage will be the last time it gets worse
- I am guessing it can still get worse
- What's the fourth stage?
- Trough is the lowest point in an economy This though is good because it signals that it can only get better After this it goes into a recovery where it loops back into an expansion
- Yep it is a never ending cycle in an economy
- The fifth and sixth stage is trough and recovery
- So it just keeps repeating?
- What's the fifth and sixth stage?
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