Economic cycle
What Economic cycle means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Economic cycle
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Check what you remember
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Reference: Pearson Edexcel
The natural fluctuation of an economy between periods of expansion and contraction over time, measured by changes in real Gross Domestic Product (GDP).
The pattern of booms and recessions during which demand for normal and inferior goods moves in opposite directions.
Topics that use Economic cycle
- Income elasticity of demand (YED) (Pearson Edexcel A-Level)
- The economic cycle (Pearson Edexcel A-Level)
Related terms
- Boom
- Demand-pull inflation
- Income elasticity of demand (YED)
- Inferior good
- Inflationary pressures
- Percentage change
- Product portfolio management
- Unemployment
Using Economic cycle in the exam
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