What are the four phases in the typical business cycle?
Understand the Problem
The question is asking for the four distinct phases that characterize the typical business cycle. Understanding these phases helps in comprehending economic trends and cycles.
Answer
expansion, peak, contraction, and trough
The final answer is expansion, peak, contraction, and trough
Answer for screen readers
The final answer is expansion, peak, contraction, and trough
More Information
These four phases repeat over time, outlining the natural fluctuation in economic activity.
Tips
Confusing the contraction phase with recession is a common mistake, as recession is a specific type of contraction.
Sources
- The web page with info on - Investopedia - investopedia.com
- What Are the 4 Phases of the Business Cycle? (Plus Examples) - Indeed - indeed.com
- Economic Cycle: Definition and 4 Stages of the Business Cycle - Investopedia - investopedia.com
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