BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Recovery. After the trough, the economy moves to the stage of recovery. In this phase, there is a turnaround in the economy, and it begins to recover from the negative growth rate. Demand starts to pick up due to low prices and, consequently, supply begins to increase.

Detailed explanation-2: -A trough is marked by conditions like higher unemployment, layoffs, declining business sales and earnings, and lower credit availability. After the trough, recovery and expansion begin.

Detailed explanation-3: -Economic recovery is the business cycle stage following a recession that is characterized by a sustained period of improving business activity. Normally, during an economic recovery, gross domestic product (GDP) grows, incomes rise, and unemployment falls as the economy rebounds.

Detailed explanation-4: -An expansion begins at the trough (or bottom) of a business cycle and continues until the next peak, while a recession starts at that peak and continues until the following trough.

Detailed explanation-5: -A peak marks a cyclical high point in a time series, although there may be higher points in the time series’ history. A trough marks a cyclical low point in a time series, although there may be lower points in the time series’ history. A contraction in a time series is the period of decline from a peak to a trough.