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Economic Growth/Cycle - Coggle Diagram
Economic Growth/Cycle
RECESSION
fall in the level of real national output e.g. a period when growth is negative, leading to a contraction in employment, incomes and profits.
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BOOM
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fast growth of consumption helped by rising real incomes, strong confidence and a surge in house/share prices
a pick up in demand for capital goods as businesses invest in extra capacity to meet strong demand and to make higher profits.
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government tax revenues will rise and people earn and spend more/ companies making more profit - Gov increase investment e.g. hospitals - healthier population.
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