arendustsükleid
Arendustsükleid, also known as the business cycle, is a recurring pattern of expansion and contraction in the economy. It is characterized by periods of economic growth followed by recessions, and is influenced by various factors such as consumer spending, investment, and government policies. The business cycle is typically divided into four phases: expansion, peak, contraction, and trough.
During the expansion phase, the economy grows, leading to increased employment, higher consumer spending, and rising
The contraction phase follows, characterized by a decline in economic activity, reduced employment, and lower consumer
The business cycle is influenced by various factors, including monetary policy, fiscal policy, and external shocks
The business cycle is an important concept in economics, as it helps to explain fluctuations in economic