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Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion ...
Toggle Physics cycles subsection. ... Print/export Download as PDF; Printable version; ... Economic and business cycles
The Kitchin cycle is a short business cycle of about 40 months, identified in the 1920s by Joseph Kitchin. [ 1 ] This cycle is believed to be accounted for by time lags in information movement, affecting the decision making of commercial firms.
Despite the often-applied term cycles, the fluctuations in business economic activity do not exhibit uniform or predictable periodicity. [ 6 ] According to standard theory, a decrease in price will result in less supply and more demand, while an increase in price will do the opposite.
The first part of the book starts by presenting the problem thermodynamics is trying to solve, and provides the postulates on which thermodynamics is founded. It then develops upon this foundation to discuss reversible processes, heat engines, thermodynamics potentials, Maxwell's relations, stability of thermodynamics systems, and first-order phase transitions.
Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real, in contrast to nominal, shocks. [1] RBC theory sees business cycle fluctuations as the efficient response to exogenous changes in the real economic environment.
Sometimes the term business life cycle is used interchangeably with the organizational life cycle, while the two are different. The organizational life cycle is a more inclusive term for all kinds of organizations which includes even government organizations , but the business life cycle refers more specifically only to for-profit companies .
The Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics seeking to explain how business cycles occur. The theory views business cycles as the consequence of excessive growth in bank credit due to artificially low interest rates set by a central bank or fractional reserve banks. [ 1 ]