Business Cycle:
Business Cycle: Fluctuations in economic activity that an economy experiences over a period of time.
• There are 4 points to a Business Cycle:
1.) Expansion: A period of economic upturn when output and employment are rising
2.) Peak: The highest point, where business activity has reached a temporary maximum
3.) Contraction: Recession, period of decline of total output, income, and employment.
4.) Trough: The lowest point, turns from a recession to a depression
• There are 4 points to a Business Cycle:
1.) Expansion: A period of economic upturn when output and employment are rising
2.) Peak: The highest point, where business activity has reached a temporary maximum
3.) Contraction: Recession, period of decline of total output, income, and employment.
4.) Trough: The lowest point, turns from a recession to a depression
Excellent use of graph to help the reader visualize the topic. I would have liked to see more detail in the written portion of the blog to help one who may not be a visual learner.
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