|
|
BUSINESS CYCLE PHASES: The recurring, but irregular, pattern of business cycles can be divided into two basic phases -- expansion and contraction. An expansion is a period of increasing economic activity and a contraction is a period of declining economic activity. These two phases are marked by two transitions. The transition from expansion to contraction is termed a peak and the transition from contraction to expansion is termed a trough. The early portion of an expansion is often referred to as a recovery.
Visit the GLOSS*arama
|
|
|
|
|
ARC ELASTICITY The average elasticity for discrete changes in two variables. The distinguishing characteristic of arc elasticity is that percentage changes are calculated based on the average of initial and ending values of each variable, rather than initial values. Arc elasticity is generally calculated using the midpoint elasticity formula. The contrast to arc elasticity is point elasticity. For infinitesimally small changes in two variables, arc elasticity is the same as point elasticity.
Complete Entry | Visit the WEB*pedia |
|
|
|
The average length of a "business lunch" is about 36 minutes.
|
|
|
"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
|
|
IRT
International Trade Commission
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
