The company has been experiencing different phases of the business cycle. Recently, it has seen rapid growth in new projects and an increase in employee hiring. However, after reac... The company has been experiencing different phases of the business cycle. Recently, it has seen rapid growth in new projects and an increase in employee hiring. However, after reaching a high point in productivity, progress has slowed down. Now, the company is facing challenges with project delays and a reduction in revenue. Drag the correct term from the word bank into each blank to complete the sentences below, describing the company's current business cycle phases.
Understand the Problem
The question is asking for the correct business cycle terms to fill in the blanks related to the company's current situation during various phases of growth and challenges. It involves understanding business cycle concepts.
Answer
1. Expansion 2. Peak 3. Contraction 4. Trough
The final answer is:
- Expansion
- Peak
- Contraction
- Trough
Answer for screen readers
The final answer is:
- Expansion
- Peak
- Contraction
- Trough
More Information
The expansion phase is characterized by a rise in production and employment, leading to increased hiring. The peak phase represents the highest point of economic activity before the slowdown. Contraction involves a decrease in economic activity and challenges like reduced revenue, possibly leading towards a trough, which is the lowest phase, if the situation worsens.
Tips
Common mistakes include confusing the peak with expansion or contraction with trough, so pay attention to the specific characteristics of each phase.
Sources
- Business Cycle: What It Is, How to Measure It, and Its 4 Phases - investopedia.com
- What Are the 4 Phases of the Business Cycle? (Plus Examples) - indeed.com
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