Business Cycle Peak: Definition & Overview Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What are the four phases of the business cycle?

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1. Who, and when, first articulated the concept of 'business cycle' in economic literature?

2. Which of the following indicators would not be a good indicator of the possibility a peak is near?

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About This Quiz & Worksheet

This quiz and corresponding worksheet will help you gauge your understanding of the peak within a business cycle and how it can be used by managers. To pass the quiz, you'll need to know about concepts like the phases of the business cycle and indicators of upcoming peaks.

Quiz & Worksheet Goals

Use these assessment tools to assess your knowledge of:

  • The four phases of the business cycle
  • Who coined the term 'business cycle' and when
  • The main indicators that a peak might be coming
  • How often the U.S. economy experiences a peak
  • What a peak would mean to a production manager for an electronics firm

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Defining key concepts - ensure that you can accurately define main phrases, such as peak and trough
  • Reading comprehension - ensure that you draw the most important information from the related lesson on the business cycle peak
  • Interpreting information - verify that you can read information regarding the phases of the business cycle and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about how a peak affects a manager in a given scenario

Additional Learning

To learn more about the importance of peaks in the economy, review the corresponding lesson on the Business Cycle Peak. This lesson covers the following objectives:

  • Know which economists named the business cycle
  • Review the phases of the business cycle
  • Understand the concept of a peak in business
  • Examine a graph of the U.S. business cycle from 1930-2000
  • Explore peak indicators
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