Business Survey Essay
The business cycle has become more of a natural phenomenon these days. And several factors cause these fluctuations, apart from possible central bank interventions. Global pandemics, for example, have paralyzed major economic processes. Business cycles include the following four phases: 1. The upward slope of the business cycle is called economic expansion. This is a period when economic production increases. That is, more goods and the importance of understanding business cycles. Understanding business cycles is an opportunity to interpret the economic figures and determine the situation in the economy, which gives an opportunity to make future forecasts based on the theories of business cycles. After the Great Depression, macroeconomic studies changed,