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The first phase of the business cycle is prosperity; is a period in
which most people who want to work are working, businesses
produce goods and services in record numbers, wages are
Goods and the GDP rate growth increases. Then recession is next
which is a period in which demand begins to decrease, businesses
Lower production, unemployment begins to rise. Depression is a
phase marked by a prolonged period of high unemployment, weak
Consumer sales and business failures.
What is The Four Phases Of The Business Cycle?