Introduction to Economic Stages

What you’ll learn to do: identify and explain the four stages of an economy (expansion, peak, contraction, and trough), and describe their impact on business operations

Spring, summer, fall and winter: the four seasons of the year. Expansion, peak, contraction, trough: the four seasons of an economy. In this next section you’ll learn about the cyclical nature of economies and how each of these “seasons” affects business operations.