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| Asked by:
Anonymous on Apr-01-2008 01:01:56 | |
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.png) | Difference between economic activity and businesscycle? |
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| Answer
1 Contributor: Anonymous on Apr-01-2008 06:48:28 |
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A business cycle is not a regular, predictable, or repeating phenomenon like the swing of the pendulum of a clock. Its timing is random and, to a large degress, unpredictable. A business cycle is identified as a sequence of four phases:
Contraction (A slowdown in the pace of economic activity)
Trough (The lower turning point of a business cycle, where a contraction turns into an expansion)
Expansion (A speedup in the pace of economic activity)
Peak (The upper turning of a business cycle)
Economic activity involves various economic indicators and the role those economic indicators play in economic growth | Report
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