The economic activities do not progress in a linear way but they follow a line characterized by rises and falls, repeating itself. It is possible to define ECONOMIC CYCLE as the regular fluctuation of the economic activities throughout the time.
The principal phases of the CYCLE are that of expansion, where there grow the economic total activity and the employment, and that of recession or contraction, where it diminishes the pace of the economy and descend or the above mentioned variables stagnate.
To the RECESSIONS also one is in the habit of being calling them depressions, even if the latter term, in some cases, is reserved for the recessions of certain consideration; if the depression is very intense it`s used, the word CRISIS, though the term belongs more to the daily language that to the technician, from an economic point of view crisis is, nevertheless, the point where the expansion reaches his maximum and "explodes", passing to the recession.
The principal phases of the CYCLE are that of expansion, where there grow the economic total activity and the employment, and that of recession or contraction, where it diminishes the pace of the economy and descend or the above mentioned variables stagnate.
To the RECESSIONS also one is in the habit of being calling them depressions, even if the latter term, in some cases, is reserved for the recessions of certain consideration; if the depression is very intense it`s used, the word CRISIS, though the term belongs more to the daily language that to the technician, from an economic point of view crisis is, nevertheless, the point where the expansion reaches his maximum and "explodes", passing to the recession.
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