Any business that is launching a new product needs to appreciate that this initial stage could require significant investment. Any investment in research and new product development has to be weighed up against the likely return from the new product, and an effective marketing plan will need to be developed, in order to give the new product the best chance of achieving this return.
By Stephen Simpson The business cycle is the pattern of expansioncontraction and recovery in the economy. Generally speaking, the business cycle is measured and tracked in terms of GDP and unemployment — GDP rises and unemployment shrinks during expansion phases, while reversing in periods of recession.
Wherever one starts in the cycle, the economy is observed to go through four periods — expansion, peakcontraction and trough.
Recession is typically used to mean a downturn in economic activity, but most economists use a specific definition of "two consecutive quarters of declining real GDP" for recession. By comparison, there is no formal definition of depression.
The movement of the economy through business cycles also highlights certain economic relationships.
While growth will rise and fall with cycles, there is a long-term trend line for growth; when economic growth is above the trend lineunemployment usually falls.
The relationship between inflation and growth is not as clear, but inflation does tend to fall during recessions and then increase through recoveries. To learn more about the business cycle, see Recession: While the business cycle is a relatively simple concept, there is great debate among economists as to what influences the length and magnitude of the individual parts of the cycle, and whether the government can or should play a role in influencing this process.
Keynesiansfor instance, believe that the government can soften the impact of recessions and shorten their duration by cutting taxes and increasing spending, while also preventing an economy from "overheating" by increasing taxes and cutting spending during expansion phases.
In comparison, many monetarist economists disagree with the notion of business cycles altogether and prefer to look at changes in the economy as irregular non-cyclical fluctuations. In many cases, they believe that declines in business activity are the result of monetary phenomena and that active government inflation is ineffective at best and destabilizing at worst.
Real business cycle theorists, for instance, believe that it is external shocks like innovation and technological progress that drive cycles, and that issues like excessive overcapacity can drive downturns. Other theorists suggest that excess speculation or the creation of excess levels of bank capital drive business cycles.timberdesignmag.com has been an NCCRS member since October The mission of timberdesignmag.com is to make education accessible to everyone, everywhere.
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History of Britain's First Opium Wars. Introduction This is the setting for what follows below: narcotics are pouring in from abroad through a well-organized, efficient group of smugglers. By Stephen Simpson The business cycle is the pattern of expansion, contraction and recovery in the economy.
Generally speaking, the business cycle is measured and tracked in terms of GDP and. The use of multi-programming for spooling can be ascribed to the Atlas computer in the early s.
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