Question:
I need to know about Business Cycle Recession Depression so give me detail.
Answer:
Here are the four Phases of Business Cycle:
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 (upper turning point).
Depression Phase : Contraction or Downswing of economy.
Recovery Phase : from depression to prosperity (lower turning Point).
Diagram of Four Phases of Business Cycle
The four phases of business cycles are shown in the following diagram :-
Business-Cycle
