The periodic fluctuations in production, consumption, and trade that affect world economic conditions are referred to by economists as

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Business cycles refer to the periodic fluctuations in economic activity that an economy experiences over a period of time. These cycles are characterized by phases of expansion (growth) and contraction (decline) in GDP and other economic indicators, affecting production, consumption, and trade. Recessions and depressions are specific phases within the broader concept of business cycles, while bull or bear markets specifically relate to stock market trends.

The Periodic Fluctuations in Production, Consumption, and Trade That Affect