The Business Cycle
Explore the phases of the business cycle and their impact on economic activity with this Grade 11 Social Studies worksheet.
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The Business Cycle
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Date:
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Read each question carefully and provide thoughtful answers based on your understanding of the business cycle.
1. Which of the following is NOT considered a phase of the business cycle?
Expansion
Inflation
Peak
Trough
2. During a(n) phase, economic activity is declining, and unemployment typically rises.
3. A sustained period of economic decline is known as a(n) .
4. The highest point of the business cycle, where economic activity reaches its maximum, is called the .
5. Briefly describe the characteristics of the expansion phase of the business cycle.
6. Government intervention, such as fiscal and monetary policy, has no impact on the business cycle.
True
False
Match each term with its correct definition.
7. Recession
a. A period of significant economic growth
8. Trough
b. The lowest point of economic activity
9. Recovery
c. A significant decline in economic activity