What word describes the phase of a business cycle that occurs after a trough and before a peak? A) consolidation B) contraction C) expansion D) lag
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Expansion describes the phase of a business cycle that occurs after a trough and before a peak.
Option C)
Explanation:
The business includes the production and distribution of products. It is an economic activity where goods are produced, and services are provided to satisfy human needs and wants.
Features of business are:
1. Exchange of goods.
2. Producers aim for profit.
3. Uncertainty always looms around the business.
4. Marketing and distribution of products
5. The satisfaction of consumers.
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The phase of a business cycle that occurs after a trough and before a peak is Option C.
Explanation:
Phases of the business cycle are explained below:
- Expansion: During this phase of the Business cycle spendings of business and consumer rise.
- Peak: after a period of growth now comes the period where the business reached at its peak it is the highest profitable period for business.
- Recession: This is the period when the real GDP begins a decline.
- Depression: This is the lowest point in the business cycle.
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