Boom and bust in the context of "Recession"

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⭐ Core Definition: Boom and bust

Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms.

There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory classifications are provided first by including more economic indicators and second by looking for more data patterns than the two quarter definition. In the United States, the National Bureau of Economic Research oversees a Business Cycle Dating Committee that defines a recession as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."

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Boom and bust in the context of Rural area

In general, a rural area or a countryside is a geographic area that is located outside towns and cities. Typical rural areas have a low population density and small settlements. Agricultural areas and areas with forestry are typically described as rural, as well as other areas lacking substantial development. Different countries have varying definitions of rural for statistical and administrative purposes.

Rural areas have unique economic and social dynamics due to their relationship with land-based industry such as agriculture, forestry, and resource extraction. Rural economics can be subject to boom and bust cycles and vulnerable to extreme weather or natural disasters, such as droughts. These dynamics alongside larger economic forces encouraging urbanization have led to significant demographic declines, called rural flight, where economic incentives encourage younger populations to go to cities for education and access to jobs, leaving older, less educated, and less wealthy populations in the rural areas. Slower economic development results in poorer services like healthcare, education, and infrastructure. This cycle of poverty contributes to why three quarters of the global impoverished live in rural areas according to the Food and Agricultural Organization.

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Boom and bust in the context of Glasgow School

The Glasgow School was a circle of influential artists and designers that began to coalesce in Glasgow, Scotland in the 1870s, and flourished from the 1890s to around 1910. Representative groups included The Four (also known as the Spook School), the Glasgow Girls and the Glasgow Boys. Part of the international Art Nouveau movement, they were responsible for creating the distinctive Glasgow Style (see Modern Style (British Art Nouveau style)).

Glasgow experienced an economic boom at the end of the 19th century, resulting in an increase in distinctive contributions to the Art Nouveau movement, particularly in the fields of architecture, interior design and painting.

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Boom and bust in the context of Oruro, Bolivia

Oruro (Hispanicized spelling) or Uru Uru is a city in Bolivia with a population of 264,683 (2012 calculation), about halfway between La Paz and Sucre in the Altiplano, approximately 3,709 meters (12,169 ft) above sea level.

It is Bolivia's fifth-largest city by population, after Santa Cruz de la Sierra, El Alto, La Paz, and Cochabamba. It is the capital of the Department of Oruro and the seat of the Roman Catholic Diocese of Oruro. Oruro has been subject to cycles of boom and bust owing to its dependence on the mining industry, notably tin, tungsten, silver and copper.

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