Title: Identify the stages in the business cycle.
Course: Entrepreneurship, Advanced (12053-II) > Section: Understanding Economic Influences on a Business

Identification should include the stages of the business cycle (i.e., fluctuations in the economy as measured by expansion and contraction) as expansion, recession, trough, and recovery.

Process/Skill Questions:

- What factors affect the business cycle?
- How does government influence the business cycle?
- How does the government use interest rates to influence customer spending and borrowing?
- Why is it important to identify the stage the business cycle is in?
- What is the role of consumer confidence in the economy? How does it relate to business cycles?
- What stage of the business cycle is the U.S. economy currently in? How does this stage affect the life of the individual? The general health of the global economy?
- Why is it important to keep the economy at a healthy growth rate?
- What types of businesses might continue to do well during a recession?
- What might cause a change from the recession stage to the prosperity stage?
- What factors can keep an economy in a recession?