Connor Industries Inc. constantly scans the environment to keep ahead of competition and to survive as a business. The owners seek statistics that provide valuable information about the future of the economy for periods ranging from three to twelve months. Knowing the _____ is of great benefit to Connor.
A) leading economic indicators
B) recession index
C) consumer price index
D) inflation rate

Question

Quizplus · Accepted Answer

Leading economic indicators are statistics that typically change before the economy starts to follow a particular pattern or trend. By monitoring leading indicators, businesses like Connor can make strategic decisions to stay ahead of the competition and adjust their operations accordingly. The recession index, consumer price index, and inflation rate are important economic indicators, but they provide more information about the present or recent past rather than the future.