Question

As the business cycle evolves, what changes do you see in the economy around you in terms of job availability, work conditions, and the way you spend and save your income?

Focusing on the last bit:

What kinds of goods or services do people tend to sacrifice or forego when money is tight? What are some of the first things people splurge on when circumstances improve? What do you continue to demand regardless of your financial circumstances? What does that tell us about our characteristics as US consumers?

Answer 1

Fair enough to say that when the busines cycle evolves ,it prosperous a lot of other things around it like employement , avilability of product or services, etc .When a business cycle evelove the economy is either decline or either prosper depending upon the quality and contribution of the business cycle doing in the nation.I see that when a business cycle eveolve , working condition also improve in a better manner and the income spending increaes as of income increment and also there are other few thing which also get affected like demand and supply in that location or area because of this eveolving busines cycle .Sometime this also encourage the trend in the nation depending upon the target customers.Now generally people tend to scrifise those thing mostly which are expensive to buy like an expensive car , phone,house,etc because if there are alternative available to them then , they sacrifise the thing to use if the money or the budget is tight which is good for the firm who are elling the ame thing or their alternative in cheap amount and affordable price.I would continue to demand baic necessities for survival regardle of my financial condition.It tell u about the characterisitics of US consumers like they are easy to switch depending upon the consumtpion,necessities , availability of good or service .