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.
Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification.
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