Question

which of the following denotes business activity at high level with increasing output and income
1 boom
2 recession
3 depression
4 recovery

Answer 1

I think it will be recession.

Answer 2

Correct option for given mcq is option 1. Answer is  Boom

Explanation : An economic boom, commonly referred to simply as a "boom," is a period of economic prosperity. During the boom, demand for goods and services is high, employment increases, and both wages and prices rise. The economic boom usually involves increased sales and investment, leading to  stock market profits.

During the boom, key economic indicators will rise. Gross domestic product (GDP), which measures a country's economic output, is increasing. This also applies to productivity, as the same number of workers produce more goods and services. Business sales increase,  profits increase, and as a result, business and family income increases.

A boom starts when economic output, as measured by GDP, turns positive.

Option is 1 correct. Answer: Boom

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