Joshua pays a higher concert ticket price than raffi because joshua buys his ticket on the day of the concert. this is an example of

This is an example of supply and demand by the time Joshua decides to purchase his ticket the quantity available is diminishing thus the price is rising. He needs a strategy to avoid the increasing his entertainment expenses by planning ahead further and determining which events are of highest experiential value for his personal tastes.

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.