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Business cycle
01
the rhythmic pattern of economic growth and decline, consisting of phases such as expansion, peak, contraction, and trough
Example
During an economic expansion phase of the business cycle, consumer spending tends to rise, leading to increased production and job opportunities.
The peak of the business cycle is marked by high employment levels, robust economic activity, and often, inflationary pressures.
The trough of the business cycle represents the lowest point, with economic activity bottoming out, and typically precedes a new phase of expansion.
