Trough (economics)

In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks.[1][2]

Economics
Part of a series on
Index Outline Category
History Branches Classification History of economics Schools of economics Mainstream economics Heterodox economics Economic methodology Economic theory Political economy Microeconomics Macroeconomics International economics Applied economics Mathematical economics Econometrics JEL classification codes
Concepts Theory Techniques Economic systems Economic growth Market National accounting Experimental economics Computational economics Game theory Operations research Middle income trap
By application Agricultural Behavioral Business Cultural Demographic Development Digitization Ecological Education Engineering Environmental Evolutionary Expeditionary Economic geography Financial Health Economic history Industrial organization Information Institutional Knowledge Labour Law Managerial Monetary Natural resource Organizational Personnel Economic planning Economic policy Public economics Public / Social choice Regional Rural Service Socioeconomics Economic sociology Economic statistics Urban Welfare Welfare economics
Notable economists François Quesnay Adam Smith David Ricardo Thomas Robert Malthus John Stuart Mill Karl Marx William Stanley Jevons Léon Walras Alfred Marshall Irving Fisher John Maynard Keynes Arthur Cecil Pigou John Hicks Wassily Leontief Paul Samuelson more
Lists Economists Publications (journals)
Glossary Glossary of economics
Business portal Money portal

The period of the business cycle in which real GDP is increasing is called the expansion, in which the real GDP moves from the trough towards the peak. [3]

References

Hyman, David N. (1992). Economics. Irwin. p. 621. ISBN 9780256111606.
Hafer, Rik W. (2005-07-30). The Federal Reserve System: An Encyclopedia. ABC-CLIO. p. 46. ISBN 9780313062742.
Picardo, Elvis (2003-11-25). "Business Cycle". Investopedia. Retrieved 2018-09-27.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.