1. In this chapter, business was defined as the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. In what ways is Warby Parker satisfying the needs of its customers? 2. Given that Warby Parker's original idea was to sell online to minimize distribution costs and keep prices low, they now have opened over 50 stores in 22 U. S. states. Do you agree with its more recent decision to open tradi- tional retail stores?
3. Imagine you wear eyeglasses and have just broken your last pair of glasses. Would you purchase glasses from Warby Parker's online store or go to a traditional retailer? Explain your answer.

The activity of providing goods and services involving financial and commercial and industrial aspects.

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.