As the result of a hurricane heading toward the coastal area of north carolina, residents rushed to purchase plywood to cover their windows. retailers who carried plywood were operating in a

The answer is seller's market. This means that in a market in which the goods (for this problem it is the plywood), buyers have a limited range of choice and prices will go up. This is also characterized by a shortage of goods because of panic buying. 

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.