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Business Cycle
The Business Cycle is the fluctuation of economic activity that an economy experiences over a period of time, marked by phases of expansion and contraction.
Recovery Phase
A stage in the economic cycle where activity starts to increase again after a downturn, leading to improvements in employment, consumer confidence, and spending.
Recessionary Phase
A period in the business cycle where the economy is contracting, leading to reduced economic activity and increased unemployment.
Prosperity Phase
A period during an economic cycle characterized by high economic growth, employment, and consumer spending.