The business cycle refers to the periodic rises and falls that occur in all economies over time.

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The business cycle is a well-established concept in economics that describes the pattern of expansion and contraction that occurs within an economy over time. This cycle typically includes periods of economic growth, or expansion, followed by periods of contraction, or recession, before the cycle begins again. While the exact length and severity of each cycle may vary from one economy to another, the underlying pattern is generally consistent across all economies.

The Business Cycle Refers to the Periodic Rises and Falls