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English definition of “boom and bust”

boom and bust

noun [U]    
ECONOMICS a situation in which an economy or business regularly goes through periods of increased activity and success followed by periods of failure : The history of oil is one of boom and bust . In the gold industry , boom and bust cycles last an average of 10 years . The country seems , for now at least, to have left behind boom-and-bust economics .
(Definition of boom and bust noun from the Cambridge Business English Dictionary © Cambridge University Press)
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