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

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60 Second Adventures in Economics (combined)

Questions and answers

  1. How did this project help you understand how we measure our economy? It helped me understand that the economy is unpredictable
  2. How has this project helped you understand the business cycle? That it is essential for profit
  3. How does this concept apply to your life? I honestly do not know how it does
  4. Is there anything about GDP, Inflation, Unemployment, or the Business Cycle that you do not understand? No