What is the Economy All About? - Seth Osborne

What is the Economy All About? - Seth Osborne
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  • Welcome! I'm here to tell you about a business cycle.
  • First off, most businesses start off on the right foot and start making their money and products fast, efficiently, and they are at the top of there business. That's what you call a business peak. Then things start going downhill.
  • After the business peak comes the recession. A recession is when a business is falling from it's peak. As this is happening, people are losing their jobs and the company starts to lose money.
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  • After the recession comes the trough/depression. The trough is when the recession hits rock bottom, it bottoms out. If it takes too long to get out of a trough it is called a depression.
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  • After the company hits a trough there is only going up from there if the company doesn't totally break. When a company is going up from a trough/depression it is called an expansion/recovery. This is when the company's employment rates go up, output of what their selling goes up, and their economic situation starts getting better.
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  • Thanks for listening on how a business cycle works!
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