Question

what are the important stages of economic evolution? Briefly explain any one​

Answer 1

Answer:

Economic cycles are identified as having four distinct economic stages: expansion, peak, contraction, and trough. An expansion is characterized by increasing employment, economic growth, and upward pressure on prices.

Answer 2

Explanation:

Economic cycles are identified as having four distinct economic stages: expansion, peak, contraction, and trough. An expansion is characterized by increasing employment, economic growth, and upward pressure on prices.

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