Question

(25) Give the definition of a trade cycle.​

Answer 1

Answer:

Trade cycles refer to regular fluctuations in the level of national income. It is a well-observed economic phenomenon, though it often occurs on a generally upward growth path and has a variable time span, typically of three years. In trade cycles, there are upward swings and then downward swings in business.

Explanation:

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Answer 2

Trade cycles refer to regular fluctuations in the level of national income.