majandustsüklit
Majandustsüklit, also known as business cycles, refers to the recurring pattern of expansion and contraction in the overall economic activity of a country or region. These cycles are characterized by fluctuations in key economic indicators such as gross domestic product (GDP), employment, industrial production, and inflation. While the exact duration and intensity of each cycle can vary, they generally follow a predictable sequence of phases.
The typical business cycle consists of four main phases: expansion, peak, contraction, and trough. Expansion is
Following the peak, the economy enters a contraction or recession. During this phase, economic activity slows
The recovery phase marks the beginning of a new expansion, where economic indicators start to improve, and