Economic expansion
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An economic expansion is an increase in the level of economic activity, and of the goods and services available in the market place. Its is a period of economic growth as measured by a rise in real GDP.[1]Typically it relates to an upturn in production and utilization of resources. Economic recovery and prosperity are two successive phases of expansion. It may be caused by factors external to the economy, such as weather, or by factors internal to the economy, such as fiscal policies, monetary policies, the availability of credit, interest rates, regulatory policies or other impacts on producer incentives. Global conditions may influence the levels of economic activity in various countries.
Economic contraction and expansion relate to the overall output of all goods and services, whilst the terms inflation and deflation relate to the value of money.
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[edit] References
- ^ Sullivan, arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 310. ISBN 0-13-063085-3. http://www.pearsonschool.com/index.cfm?locator=PSZ3R9&PMDbSiteId=2781&PMDbSolutionId=6724&PMDbCategoryId=&PMDbProgramId=12881&level=4.
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