<P> The business cycle , also known as the economic cycle or trade cycle , is the downward and upward movement of gross domestic product ( GDP ) around its long - term growth trend . The length of a business cycle is the period of time containing a single boom and contraction in sequence . These fluctuations typically involve shifts over time between periods of relatively rapid economic growth ( expansions or booms ) , and periods of relative stagnation or decline ( contractions or recessions ) . </P>
<P> The business cycle , also known as the economic cycle or trade cycle , is the downward and upward movement of gross domestic product ( GDP ) around its long - term growth trend . The length of a business cycle is the period of time containing a single boom and contraction in sequence . These fluctuations typically involve shifts over time between periods of relatively rapid economic growth ( expansions or booms ) , and periods of relative stagnation or decline ( contractions or recessions ) . </P>
the upward part of the business cycle is called the
the upward part of the business cycle is called the
expansions booms
expansions booms