The business cycle affects everyone, from the busy banker to a simple utility worker. These two words mean a lot in daily broadsheets because the effects can be tremendous enough to shake the entire stock market and bring people out of job. What actually is a business cycle and how does it work? If it is a cycle, can it be predicted? What are the important characteristics we should know about?
Recession is defined as the deterioration of a country’s economic activity for two successive quarters. The United States, although widely considered as an economic power, has not been immune to the scourge of recession. In fact, the nation has experienced a number of economic setbacks since the beginning of the 1900s. Here are the various instances of recession that took place in the US since the start of the 20th century and the reasons why they happened.
In difficult economic times, when huge businesses that were deemed too big to fail come crumbling down, there are in fact many ventures that can thrive and prosper. Many even take this opportunity to launch their businesses. Here are ten popular industries that not only survive during recessions and bad economies, but also tend to thrive and do better.