Business cycle
Boom: - during the boom stage of the business cycle the economy is performing its best. Demand, production and sales figures are high. To meet the high levels of demand and production the business has to create new jobs; by doing this the percentage of the nation has money to spend on goods and services. However as businesses produce greater profits higher wages can be paid to employees growing their disposable income. People& businesses in the economy are allowed to spend money as there is a great business available for them.
Recession: - customers continue to spend but overall load fall and product services become more costly. As a result to this businesses are strained to reduce the prices of their items to generate
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Inflation in China accelerated in november, as economic growth picked up and food prices rose. Chinese consumers paid 2% more for good and services in november then they did a year ago, the government's national bureau statistics reported on a Sunday. While that up from a 1.7% annual increase in october, it nevertheless represents tame inflation for the world's second largest economy. A year ago the country was experiencing an annual inflation rate at 4%. the Chinese government prefers to keep its annual inflation rate below 4%- a level it seems as consistent with health economic growth and consumer demand. The inflation rate averaged 4.23 percent reaching an all time high of 27.70 percent in october of 1994 and a record low of -2.20 percent in march of 1999. in china the most important components of the CPI basket are food at 31.8 percent of total weight and residence at 17.2 percent. Recreation, education and culture articles account for 13.8 percent; transportation and communication for 10 percent, healthcare and personal articles at 9.6 percent, clothing at 8.5 percent; household facilities, articles and services for 5.6 percent; tobacco liquor and articles for the remaining 3.5 percent. The CPI basket is reviewed every five years on the basis of household surveys. Revisions reflect new spending patterns and economic development, according to the nation bureau of statistics.
Interest rates (UK): historically, from 1971 until
Explain the roles and responsibilities for Health and Safety of key personnel in a selected workplace (P3)
Different care strategies can be used to support a person that has MS and type 1 diabetes
Selling of council houses is becoming an increasing issue in the UK as people and even businesses are buying the house out. This means hundreds of family homes are now owned by private landlords or individual people. As a consequence, families are finding it difficult to find family-homes to live in.
In this assignment I am going to be explaining the factors that may influence communication and interpersonal in health and social care environments and also I am going to be explaining the strategies used in health and social care environments to overcome barriers to effective communication and interpersonal interactions. I will be including sensory deprivation, foreign language, jargon, slang, dialect, acronyms, cultural differences, distress, emotional difficulties, health issues and environmental problems, misinterpretation of message, aggression, assertion and how they can be overcome.
As an employee of Tesco myself, I know that they have regular 1:1 meeting held within each of the different departments with the team leader. This is essentially gives them the opportunity to report back and provide the employee with the necessary feedback that they need to progress on to the next stage of their personal
The two economic environments that I would be describing about are recession and growth on the business activities of John Lewis. Growth occurs when more goods are being produced and consumed, and also incomes are rising. During growth people spend more money on goods and services as they have more money to spend and also businesses would invest more and hire more labour as it links to increasing demand. Recession however occurs when people involved in business become more cautious so they cut their spending down and also cut back on their orders as well as making workers unemployed or redundant.
In December 2007, the United States experienced a time of rising unemployment and declining GDP (gross domestic product) that lasted until 2009. This period was dubbed the Great Recession due to the severity of the negative impacts. The U.S. National Bureau of Economic Research defines a recession as a “period of at least two consecutive quarters of declining levels of economic activity” (Krabbenhoft), and during the time span between 2007 and 2009 GDP decreased by 3.5 percent and unemployment rate increased more than 5 percent. The gross domestic product indicates the total value of goods and services produced over a period of time, so production and consumer spending decreased drastically. The government attempted to alleviate the unemployment rate and increase economic growth by creating what’s known as a multiplier effect. The multiplier effect occurs when there is an increase in final income from the increase in spending from the initial stimulus. Consumer expenditures make up 70 percent of GDP, and
primarily concerns about the health of the economy where the business operates. Which can be measured by looking at the GDP which is the value of all final goods and services produced within the country in a specific period of time, unemployment rate calculated by taking the number of people that are unemployed. Consumers confident to spend money, as well as the interest rate rising and inflation (which is an increase in the prices of goods and services). The economic factors can affect the production as businesses should make a decision to reduce or increase the production due to the economic environment. capital spending and labour force should be considered in case of recession as a business may cut their investments and expansion plans,
The business cycle is a series of quantified ups and downs in economies across the world, similar to the manner in which humans breathe. A positive breath inward to bring oxygen to the lungs, a negative breath outward to push carbon dioxide out of the lungs, designed to keep the respiratory system at equilibrium. Without the outward breath, the inward breath would not occur. The business cycle works in the same manner ¬¬– expansions or “boom” periods acting as the breath inward, and contractions or “recessions” acting as the breath outward. Both are necessary for an economy to function, and one would not be able to exist without the other. This is the crux of the issue of recessions: they are a necessary occurrence, not an evil, in the context
A recession is a period when there is negative growth in GDP, for at least two consecutive quarters of a year. A recession is a period when, after reaching a maximum level (the peak), business activity starts slowing down by the time it reach the lowest level (the trough). In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise. ("Recessions," n.d.)
There are so many countries in the world have been struggling because of a recession in their country’s economies and United Kingdom hasn’t been an exception. A recession is a macroeconomic term that explains one of the two different business cycles that economies face and go through. The business cycles are characterized by either a thriving trend where there are more business happenings supported with a rapid economic increase and parts of a recession where there is obstruction of the economic development. There are many different features and aspects that contribute to economic progress, which is measured through the gross domestic product. This factor will include reserves, investments government spending and other factors within either an upsurge or a reduction. A reduction in spending might lead to a recession while an upsurge in spending could lead to expansion.
Empirical data represented in Figure 1a & 1b shows the rapid change in China’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) that started from 1992 (Chen, Quan, & Liu, 2013). It has a relatively high average GDP growth of 10% per year over the last 30 years and its greatest increase occurred between 2001 and 2007 with an average of 11.6% (Malkiel, et al., 2008). This equates to a GDP growth increase of nearly
A boom and bust cycle is process of economic expansion and contraction that occurs repeatedly. The boom and bust cycle is a key characteristic of today’s capitalist economies. A boom is when there are a lot of jobs available and the outlook is good and the market brings high returns to investors. During the bust, all the jobs dry up and some people lose their jobs. It’s the opposite of the boom. Since the 1940’s the United States has gone through 12 different boom and bust cycles.
To begin with, one must have a basic knowledge of the Business Cycle in order to understand key subjects such as Aggregate Demand, Aggregate Supply, and Unemployment. Over time, the economy varies in its stages of movement; we refer to these six stages as the Business Cycle. The Expansion stage is characterized by an increase in total spending, CPI, and GDP, as well as a decrease in the rate of unemployment. CPI stands for Consumer Price Index, which is the “measurement of the price level based upon a collection of goods purchased by a “typical family” in a target year expressed as a
According to the National Bureau of Economic Research, Recession is a critical decline in economic activity over the period of time and it will be evident through economic performance activities such as GDP, income, employment, industrial production, and wholesale-retail sales. (National Bureau of Economic Research)