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Boom
 

 

The point in the trade cycle where the upward movement is complete, prices and employment being at their maximum. A boom tends to break suddenly, when government action is not sufficiently strong. This can result in a sudden depression and quite severe economic hardships. The term 'boom' is also applied generally to periods when business is particularly good from the proprietor's point of view.

Reference: The Penguin Business Dictionary, 3rd edt.