The Business Cycle in Pictures Using images to reinforce the different stages of the business cycle.

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Presentation transcript:

The Business Cycle in Pictures Using images to reinforce the different stages of the business cycle

The Business Cycle Is like the changing seasons. Summer: Boom Flowers are blooming, people are happier (he linked this to business confidence), fewer leaves on the ground (low unemployment) Autumn: Recession Trees turn brown, more leaves on the ground (rising unemployment), nights become darker, moods change (lower confidence) Winter: Slump Lots of leaves on the ground (high unemployment), people are less happy (lower confidence) Spring: Recovery Green shoots!

A: The number of new housing starts begins to fall B: There are more unfilled job vacancies C: Increasing hours of overtime D: Rising homelessness H: Consumers hit by delays in product delivery K: Share prices hit by rise in number of company profit warnings E: Rising demand for steel M: Rising real income L: Rising lipstick sales I: Home delivered pizza becomes more popular J: Rising business class air revenues G: Car plants decide to reduce the number of shifts F: Long-term unemployment reaches new high N. Government announces a fall in trade deficit due to decline in imports

O: Supply of rented property exceeds demand P: Brick manufacturers report a rise in unsold stocks Q: McDonald’s holds prices despite rise in costs T: The cost of shipping goods around the world starts to rise U: More building skips start appearing on the streets V: Sales of milk chocolate start to decline X: Oil refineries report a reduction in crude oil stocks Y: More companies attempt to introduce wage freezes W: Shops delivering lunchtime sandwiches to offices raise their prices because of strong demand R: Imports of sewing machines rise S: Banks relax credit rules Z: Rising government spending

Real GDP Time The economic cycle in pictures

Create your own business cycle diagram Clearly label Boom, recession, slump, recovery on your cycle Match 4 pictures to different stages of the cycle Justify why you have placed examples at certain points in the cycle