Cheizza, a pizza vendor in the country of Wisbane, believes that the taste of fresh cheese in its pizzas is its unique selling point. However, because of the increase in the number of pizza vendors in Wisbane, the demand for cheese increased drastically. The amount of milk produced in the country was insufficient to meet the increased demand for cheese. In the context of changing environments, which of the following does this scenario best illustrate?a. Resource scarcity.
b. Buyer dependence.
c. Discontinuous change.
d. Punctuated equilibrium.

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.

The correct answer is step.