Business Cycle(Economic Cycle)

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The meaning of the term

The term, business Cycle(or Enocnomic Cycle), refers to economic-wide fluctuations in production or economic activity over several months or years. These fluctuations occur around a long-term growth tred, and typically involve shifts over time between periods of relatively rapid economic growth, and periods of relative stagnation or decline.

The fluctuations are oftern measured using the grow rath of real GDP(Gross Domestic Product. Despite being termed 'cycles, these fluctuations in economic activity don't flollow a mechanical or predictable periodic pattern.

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