The business cycle is classified into the birth phase, expansion phase, peak phase and recession phase.
What is a business cycle?
This is an economic cycle that consist of recession, recovery, growth, and decline of a firm or a country economy.
- The stage where Onyx Corp. has decided to make long term investments is the expansion phase.
- The stage where the economy of the country has recorded its highest employment rate is the peak phase.
- The stage where Jewel Inc. has decided to lay off some of its employees is the recession phase.
- The stage where Jones family's purchasing power is higher than ever is the peak phase.
- The stage where Onyx Corp. is hiring workers for its factory is the expansion phase.
- The stage where Jewels Inc.'s sales have dipped is the recession phase.
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