Question

Explain phases of trade cycle​

Answer 1

Answer:

The trades cycle or business cycle are cyclical fluctuations of an economy. ... The upward phase of a trade cycle or prosperity is divided into two stages—recovery and boom, and the downward phase of a trade cycle is also divided into two stages—recession and depression.

Explanation:

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Answer 2

Answer:

The trades cycle or business cycle are cyclical fluctuations of an economy. ... The upward phase of a trade cycle or prosperity is divided into two stages—recovery and boom, and the downward phase of a trade cycle is also divided into two stages—recession and depression.