Four Phases of Business Cycle
Business Cycle (or Trade Cycle) is divided into the following four phases :-Prosperity Phase : Expansion or Boom or Upswing of economy.
Recession Phase : from prosperity to recession (upper turning point).
Depression Phase : Contraction or Downswing of economy.
Recovery Phase : from depression to prosperity (lower turning Point).
Diagram of Four Phases of Business
Friday, 17 June 2011
4 Phases of Business Cycle in Economics with Diagram
Posted on 13:17 by Unknown
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