Business Cycles
A business cycle is a period of time in which an economy expands and contracts. A business cycle consists of four parts:
- Peak - A high point in the business cycle.
- Recession - A period of contraction.
- Trough - A low point in the business cycle.
- Recovery - A period of expansion.
Other Business Cycle Terms
- Depression - A very low and long recession.
- Boom - An extremely high peak.
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