The Economic environment varies as the economy goes through stages of economic growth and decline, this...

The Economic environment varies as the economy goes through stages of economic growth and decline, this is known as（Economic Cycle/Business Cycle?）

What is the difference between business cycle and economic cycle?

Expert Solution

There is no difference between business cycle and economic cycle, both are the same. The business cycle is also known as the economic cycle.

When an economic environment goes through stages of economic growth and decline, it means that in times of economic growth there is an inflationary trend in the economy and in times of economic decline there is deflationary trend in the economy. The up and down in the gross domestic product over the period of time is known as the business cycle which is also known as the economic cycle.

Rahul Sunny answered 2 years ago

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