In which order do these stages occur? 4, 3, 2, 1, 3 3, 2, 1, 3, 4 4, 3, 2, 3, 1 4, 2, 3, 1, 3

This is the first stage, and it's characterized by a decrease in activity throughout the economy.
This can manifest itself in different ways, like lower production levels, fewer jobs, and less spending by consumers and businesses.

Who benefits in a recession?

Rental agents, landlords, and property management companies can thrive during a recession when renting is likely to become a more appealing option, if not the only one available.

So, these stages are occur -

4. peak production

2. falling production

3. falling demand (occurs twice)

1. job loss

3. falling demand (occurs twice)

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The complete question is-

There are five stages in a recession.

1. job loss

2. falling production

3. falling demand (occurs twice)

4. peak production

In which order do these stages occur?

4, 3, 2, 1, 3

3, 2, 1, 3, 4

4, 3, 2, 3, 1

4, 2, 3, 1, 3