Business Cycle

Tax Glossary Definition

Business Cycle

Business Cycle – The business cycle refers to the recurring sequence of expansions and contractions in a nation’s overall economic activity over time. It typically includes four stages — expansion, peak, recession, and recovery — which reflect changes in output, employment, and spending driven by factors such as investment levels, consumer confidence, and fiscal policies.

Example: When GDP and job creation increase, the economy is in an expansion phase; declining production and rising unemployment indicate a recession.

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