The rise and fall of the economy is referred to as the concept of:
A)recession
B)depression
C)business cycles
D)recovery

Question

Quizplus · Accepted Answer

Business cycles refer to the regular patterns of expansion and contraction in the economy, characterized by periods of growth (expansion) and periods of decline (contraction). This is a more encompassing concept than the other options, as it encompasses both recessions and recoveries, as well as longer-term trends. The term "depression" is typically reserved for severe and prolonged economic downturns, while "recession" specifically refers to a period of economic contraction.

The Rise and Fall of the Economy Is Referred to as the Concept