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In an essay, explain the concept and components of business cycles, and identify some of the factors that contribute to the expansion and contraction of economic activity.
It is important that your answer is justified and supported with substantial research, examples and opinion. A brief introduction and conclusion should be included in your answer.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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