explain the vicious and the virtuous cycle with examples
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A virtuous circle has favorable results, while a vicious circle has detrimental results. Both circles are complex chains of events with no tendency toward equilibrium (social, economic, ecological, etc.) ... A well-known example of a vicious circle in economics is hyperinflation.
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❥A virtuous circle has favorable results, while a vicious circle has detrimental results. Both circles are complex chains of events with no tendency toward equilibrium (social, economic, ecological, etc.)
❥A well-known example of a vicious circle in economics is hyperinflation .
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