Business Cycle Recession Depression


I need to know about Business Cycle Recession Depression so give me detail.


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 :-


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