There are some areas that need to be forecasted for

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Unformatted text preview: some areas that need to be forecasted for adequate planning. Economy A system of managing the productive and employment resources of a country, state, or community Economic Growth A condition of increasing production and consumption in the economy and hence increasing national income Where Are We in the Business Cycle Expansion Peak Contraction Trough/Recession What Is the Future Direction of the Business Cycle Gross Domestic Product Employment Record Index of Leading Economic Indicators Consumer Confidence Index A steady rise in the general level of prices. Measured by a "market basket" of goods and services Occurs when the supply of money rises faster than the supply of goods and services available for purchase because of excess demand or sharply increasing production. INFLATION When prices are rising, income must also rise in order to maintain purchasing power In measuring inflation, we look at the consumer price index published by the U.S. Bureau of Labor S...
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