The Economic Cycle (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does the economic cycle describe?
What does the economic cycle describe?
Pattern of growth through 4 stages
What are the four stages of the economic cycle?
What are the four stages of the economic cycle?
Boom, recession, slump, recovery
Which characteristic describes a boom period?
Which characteristic describes a boom period?
High employment levels
What is another term for a recession?
What is another term for a recession?
Bust
What distinguishes a slump from a recession?
What distinguishes a slump from a recession?
Slump lasts for an extended period
What happens to unemployment during recovery?
What happens to unemployment during recovery?
Falls as businesses expand
What unemployment rate did Ireland reach during the Celtic Tiger boom?
What unemployment rate did Ireland reach during the Celtic Tiger boom?
Around 4%
When did Ireland's Celtic Tiger boom period occur?
When did Ireland's Celtic Tiger boom period occur?
Mid-1990s to late 2000s
What caused Ireland's recession to begin in 2007?
What caused Ireland's recession to begin in 2007?
Property bubble burst
What unemployment rate did Ireland reach during the slump period?
What unemployment rate did Ireland reach during the slump period?
15%
By what percentage did Irish property prices crash during the slump?
By what percentage did Irish property prices crash during the slump?
Approximately 54%
What unemployment level indicated Ireland's recovery by 2013?
What unemployment level indicated Ireland's recovery by 2013?
12.8%