The duration of a business cycle is the period containing one expansion and contraction in sequence. One complete business cycle has four phases: expansion, peak,contraction, and trough. They don’t occur at regular intervals or lengths of time, but they do have recognizable indicators. ...
In this lesson, you'll learn about one phase of that cycle - the peak. After the lesson, you can test your understanding with a short quiz. Related to this QuestionWhat is the importance of the business cycle in macroeconomics? What point in the business c...
Business Cycle Definition, Parts & Example from Chapter 8 / Lesson 3 126K Learn the business cycle definition and understand how it works. Study the parts of the business cycle in economics: expansion, peak, recession, and trough. Related...
In today’s fast-paced business world, staying ahead means constantly reevaluating and improving how we do things. Business process reengineering (BPR) involves breaking down and rebuilding an organization’s workflows and systems for peak efficiency. It’s an essential move for businesses seeking str...
Kaizen is the Japanese key for success. Where does it come from? Can you use it in your work? Learn the philosophy behind one of the most beloved business terms.
Through various outsourcing models, you can adjust your business operations swiftly and effectively, responding promptly to changes in market demand. For instance, a retail company might use outsourcing to rapidly scale up its customer service team during peak shopping seasons, ensuring prompt response...
Uncover the power of Kanban boards to visualize, manage, and optimize your workflow. This comprehensive guide will empower you to create effective Kanban boards, track progress, and achieve peak productivity.
In this McKinsey Explainer, we look at what a recession is, their impact on the global economy, and what can be done to mitigate their impact.
Its diffusion is measured by the extent of its spread across economic activities, industries, and geographical regions. Its duration is determined by the time interval between the peak and the trough. An expansion begins at the trough (or bottom) of a business cycle and continues until the next...
A single business cycle is dated from peak to peak or trough to trough. Such cycles generally are not regular in length, and there can be a period of contraction during an expansion and vice versa. Since World War II, the U.S. economy has experienced more expansions than contractions. Fro...