Aaron inc. is an electronics company based in the country of palmia. the company has manufacturing facilities in four other countries where labor costs are low. it also has its research centers in three other countries because these countries offer best-of-class capabilities. however, aaron inc. does not offer much product differentiation, which means that price is the main competitive weapon. in this scenario, aaron inc. most likely implements a strategy

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.