Business cycles have four phases which are expansion, peak , contractions and trough.
Explanation:
Business cycles are identified with the four phases that any particular one business cycle has. These include the four distinct phases which are expansion, peak, contraction and the trough.
The expansion represents when the economy is giving increasing outputs
While the Peak is where there is a maximum permissible output
Contraction is where there is a decrease in the output that is gotten
Trough is the lowest point of the cycle.
