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5. business cycle

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5. business cycle

  1. 1. Business CycleForecasting economic activity
  2. 2. Specification DetailUnderstand that business activity tends to rise andfall and that changes in the level of economic activitycan have serious effects on small businesses
  3. 3. Looking at the UKHere
  4. 4. How do business cycles affect small businesses? The UK economic output is constantly changing, with periods of economic growth and periods of economic decline. Below is a table showing the UK Economic output between 1976 and 2012: Here and Here Year 197 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 6% changein the UKeconomi c output 3 2.5 -1.5 0 3 4 5 -0.3 -1 3.5 3 3.25 3.75 2 2.9 2.6 -1 -2 -0.3 Create a line graph to show this data
  5. 5. Try to highlight these labels onto your graphA recession is the falling output for two successivequarters of the year, ie six months in a row.

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