2. Specification Detail
Understand that business activity tends to rise and
fall and that changes in the level of economic activity
can have serious effects on small businesses
4. How do business cycles affect
small businesses?
The UK economic output is constantly changing, with periods of
economic growth and periods of economic decline.
Below is a table showing the UK Economic output between 1976 and
2012: Here and Here
Year 197 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
6
% change
in the UK
economi
c output 3 2.5 -1.5 0 3 4 5 -0.3 -1 3.5 3 3.25 3.75 2 2.9 2.6 -1 -2 -0.3
Create a line graph to show this data
5. Try to highlight these labels onto your graph
A recession is the falling output for two successive
quarters of the year, ie six months in a row.