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Economics
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Module 05: Macro Economic Policy
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Second Semester
» Four Phases of Business Cycle
Four Phases of Business Cycle
Written By Unknown on Sunday 23 June 2013 | 01:05
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.
Depression Phase:
Contraction or Downswing of economy.
Recovery Phase:
from depression to prosperity.
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