Explanation should include the four phases of the business cycle (i.e., prosperity, recession, depression, recovery) and cite examples that illustrate how the company was affected by each phase.
Process/Skill Questions:
- How does government attempt to affect business cycles?
- What is the role of consumer confidence in the economy?
- Which business cycle phase is the U.S. (or other selected country's) economy currently experiencing? What are the effects on business? On consumers?
- What is the effect on the global marketplace when a country’s economic situation stays in one cycle for a prolonged period?
- What can a country’s current stage of its business cycle tell you about the current condition of the country’s economy?