Question

Elaborate economic cycle and inflation and their impact on the operation of firm.

Answer 1

especially in psychology, social sciences, life sciences, and physics, operationalization is a process of defining the measurement of a phenomenon that is not directly measurable, though its existence is inferred by other phenomena. Operationalization thus defines a fuzzy concept so as to make it clearly distinguishable, measurable, and understandable by empirical observation. In a broader sense, it defines the extension of a concept—describing what is and is not an instance of that concept.