What is the meaning of Business Cycle, what are the main phases of the business cycle,...

What is the meaning of Business Cycle, what are the main phases of the business cycle, what are the two turning point a business cycle go through?

Expert Solution

Ans :- business cycle know as an economic cycle. when business are movement upward and downward in the period of boom and contraction.

Business cycle are dividend into four phase like economy.

Expansion :- period of high growth, low unemployment in the country, and increase price level with production. this period is between trough to peak.
Peak :- period when economy ready to accelerate the growth. we can say it is the upward turning of the economy.this period is between expation to contraction.
Contraction :- period of low growth, higher unemployment and prices level are decreases. It's period that mid on peak to trough.
Trough :- period of negetive growth, lower turning point of cycle, this period is recession period of business cycle.

In the business cycle there are two turning point as above peak and trough.

Rahul Sunny answered 2 years ago

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