Describe the economic cycle. Give specific details and examples

Economic cycles are identified as having four distinct economic stages: expansion, peak, contraction, and trough. expansion.

Explanation:

An expansion is characterized by increasing employment and economic growth, and inflation rises. The peak is when the economy is producing at the maximum allowable output. Contraction Happens when growth slows, employment declines, and subsides. Trough economy has hit a rock bottom, so the next stage is