ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A business cycle, sometimes called a “trade cycle” or “economic cycle, ” refers to a series of stages in the economy as it expands and contracts. Constantly repeating, it is primarily measured by the rise and fall of gross domestic product (GDP) in a country.

Detailed explanation-2: -A business cycle is also known as an economic cycle or trade cycle. The various stages in a business cycle reflect the fluctuations in economic activity that an economy undergoes typically in a long period.

Detailed explanation-3: -The economic cycle, also known as a business cycle, refers to fluctuations of the economy between periods of expansion (growth) and contraction (recession).

Detailed explanation-4: -The business cycle goes through four major phases: expansion, peak, contraction, and trough. All economies go through this cycle, though the length and intensity of each phase varies. The Federal Reserve helps to manage the cycle with monetary policy, while heads of state and governing bodies use fiscal policy.