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Four Phases of Business Cycle

Business Cycle (or Trade Cycle) is divided into the following four phases;
  1. Prosperity Phase: Expansion or Boom or Upswing of economy.
  2. Recession Phase: from prosperity to recession.
  3. Depression Phase: Contraction or Downswing of economy.
  4. Recovery Phase: from depression to prosperity.

Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 
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