Business Cycle!
By Brandon Lake
Terms and definitions
GDP- The value of a product or service within a country
Inflation- An increase in price and a fall in spending power
Unemployment- Not having a job
Business Cycle- A series of cycles of the expanding and contraction of the economy
Expansion- When the economy is growing
peek- The economy is at 100%
Contraction- The economy declines
trough- the economy has entered a depression
Business Cycle
expansion
Just like this incline it can be set to go higher just like our economy can.
peek
The top of this mountain is like the peek of our economy when it has reached its max potential
recession
the economy goes down just like the money in your pocket does
trough
60 Second Adventures in Economics (combined)
Questions and answers
- How did this project help you understand how we measure our economy? It helped me understand that the economy is unpredictable
- How has this project helped you understand the business cycle? That it is essential for profit
- How does this concept apply to your life? I honestly do not know how it does
- Is there anything about GDP, Inflation, Unemployment, or the Business Cycle that you do not understand? No