Answer to those Questions
1. What is a Business Cycle?
Business cycle is fluctuations in production, trade, and general economic activity, the uptrend and downtrend of levels of Gross Domestic Product (GDP). The phase of business cycle is wave-like pattern regard of GDP over Time. Business cycles are identified as having four distinct phases: expansion, peak, contraction, and trough.
2. What benefits can a business have when he knows the business cycle of his business?
The Business owner can have benefits from knowing the business cycle as They can forecast and then take best decision on many things such as load work, number of worker required, amount of materials or equipment required, or in extreme condition They can decide whether to continue or pause the business.
3. What month of the year is the best to open a business in your opinion?
In my opinion, month of the year does not take affect on opening a business. The best time to open the business regard to type of business or products is when the economics in general is in the growing cycle or the demand is in the growing cycle for particular sector such us mining, property, consumer, etc.
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