Phases and turning points of the business cycle are expansion, peak, recession and trough.

Name: Phases and turning points of the business cycle are expansion, peak, recession and trough.
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Quizplus · Accepted Answer

These are indeed the four phases of the business cycle, where expansion is a period of economic growth, peak is the highest point of economic activity before a downturn, recession is a period of declining economic performance, and trough is the lowest point before the economy begins to recover.

Phases and Turning Points of the Business Cycle Are Expansion