Question

Cyclic variation can occur several times in a year.

Options

• True

• False

Answer 1

This statement is False.

Explanation:

1. Long-term changes in time series data that usually happen over more than one year are called cyclical variation. Examples of cyclical variation are business cycles and economic cycles.
2. While seasonal changes, like sales around the holidays, happen many times in a year, these changes don't happen again and again.
3. Changes that happen in cycles are caused by things like the economy, politics, or world trends. They go through stages like growth, peak, recession, and recovery.