______ are wave-like oscillations in demand about the trend line caused by changes in economic or business cycles or due to changes in political conditions.
A)Cyclical variations
B)Seasonal variations
C)Irregular variations
D)Random variations

Question

Quizplus · Accepted Answer

Cyclical variations refer to wave-like oscillations in demand that occur due to changes in economic or business cycles or political conditions. These variations are different from seasonal variations, which occur due to regular and predictable annual patterns, as well as irregular variations, which occur due to sporadic events such as natural disasters or strikes. Random variations, on the other hand, do not follow any specific pattern and are unpredictable. Therefore, the best choice is A) Cyclical variations.

______ Are Wave-Like Oscillations in Demand About the Trend Line