Which of the following best describes the order of business cycle phases?
A)Recession, trough, expansion, peak
B)Recession, expansion, peak, trough
C)Recession, peak, expansion, trough
D)Recession, trough, contraction, peak

Question

Quizplus · Accepted Answer

The correct order of business cycle phases is recession, trough, expansion, and peak. The recession is when the economy starts to decline, leading to a trough in economic activity. After this low point is reached, the economy starts to recover, leading to an expansion and eventually reaching a peak where the economy is thriving.

Which of the Following Best Describes the Order of Business