The business cycle is just a termed used to describe the increase and decrease pattern in economic activity over time. And by economic activity, I mean all activities that produce, trade, and consume goods/services within the U.S. So, this can include businesses, employees, and consumers. So, the total amount of productivity within these areas is what the business cycle is referring to.
The business cycle is just a termed used to describe the increase and decrease pattern in economic activity over time. And by economic activity, I mean all activities that produce, trade, and consume goods/services within the U.S. So, this can include businesses, employees, and consumers. So, the total amount of productivity within these areas is what the business cycle is referring to.