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UNIT 1 - The Business Environment - Controlled Assessment 2
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UNIT 1 - The Business Environment - Controlled Assessment 2
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3. Correctly label the business cycle pictured below.Boom
Recession Recovery
Through
3a. Explain how GDP is measured through the Business Cycle.
The business cycle is a way to measure the GDP of the country (the gross domestic product). The GDP is the monetary value of the whole country
and it is after all the finished goods and the services of the country, this is used to determine the size of the country’s economy. The business cycle
is the fall and the rise of the GDP, the fluctuation of the rise and fall is shown by the business cycle, there are some key stages of the business cycle
that are boom, recession, through and recovery. Committee members check the GDP and other indicators that are the income, the production,
sales, demand and employment rate, with these measures and debt helps understand the causes of the state that the country is on the business
cycle. The are ways that the GDP is controlled for example if it is increasing the country is in boom then the interest rate gets increased, however if
the country is in a recession than the country will be decreasing the interest rate and the money supply will be increased.
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