The four phases that characterize the Business Cycle are:
- Expansion.
- Peak.
- Contraction.
- Trough.
What are the stages of the Business Cycle?
The first stage is that of expansion where the economy grows and employment shrinks. At the peak, the economy is producing at full capacity.
The economy now starts slowing down at the contraction stage which is also known as a recession. If things don't change, this leads to a trough which is where the economy will be at its worst.
Find out more on the business cycle at https://brainly.com/question/15072650.
