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- Glide: 1
- I am! Can you tell me about it? Also I'm alex and thank you for teaching me
- Hey are you here to talk about business cycles? Im Kelly and I will be your teacher taday
- So all it is is just economic activity... basically everything decline??
- So first we will be getting into contraction, so contraction is a period when economic activity declines, characterized by falling real GDP, lower consumer spending and investment, and rising GDP.
- That's exactly right,Let move onto expansion
- Glide: 2
- Expansion is a phase of economic growth where there is an increase in overall economic activity, this includes rising GDP, employment and consumer spending. An example of this could be in 2007 there was a great recession ending in 2009.
- Wow. That was a lot to take in, but I think I got it, its basically where everything just rises like GDP? What is that?
- Ohh ok I get it. I've been hearing this thing called a trough... What is that
- Gross domestic product is the total market value of all final goods and services produced within a country's borders during a specific period.
- Ok. so without a trough there is no expansion, ok thank you, Can you tell me about peak. It seems pretty self explanatory but i need you to iterate it
- Trough is basically the lowest point of the economic business cycle, marking the end of a contraction and the beginning of an economic recovery or expansion
- Glide: 3
- You're right its really easy to understand, its just the highest point in economic activity marking the end of expansion and the beginning of contraction
- Yeah that's what I thought it was, This was all really easy to understand thank you for teaching me today
- Of course, I hope your business career was helped today. I hope you got a better understanding about this topic
- I enjoyed today, Thanks again. good bye!
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