What are the four phases of the business cycle? How long do business cycles last?

Business Dec 23, 2020

Expert Solution

Four phases of the business cycle include expansion, trough, recession, and peak. In the expansion phase, the business experiences massive growth and increased production in the economy while trough shows the transition to expansion and end of a given period. The Peak cycle refers to the highest point where expansion starts to decline while the recession is a contraction resulting from a decrease in economic activity. A business cycle may last for 5-1/2 years.

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