Journey Through the Economic Cycle PT.1

Journey Through the Economic Cycle PT.1

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  • Prosperity: Cause
  • Prosperity is when the economy is at its peak.
  • Its caused by the demand for production being high.
  • From this demand more jobs are open for people.
  • Prosperity: effects
  • There'll be low unemployment to support the high production.
  • G&S are produced in abundance, even overabundance.
  • More people have money because of the low unemployment rate.
  • prosperity: Ecomomy
  • The GDP will be high and growing.
  • We would be at peak of economic activity.
  • There is a steady inflation rate so we don't get out of control.
  • Recession: causes
  • An economic recession is when the economy is  going down.
  • High interest rates do not help the cause either.
  • This starts from the overproduction of the prosperity phase.
  • Recession: effects
  • There is reduced production of G&S.
  • people have less money because jobs pay less and some don’t have anything.
  • Less jobs because of the lower demand of production.
  • the economy comes to a bit of a slow down.
  • Recession: economy
  • The GDP goes on the decline.
  • Production is slowed down because of the lower demand.
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