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7 May, 05:59

What is the business cycle? What causes changes from one phase of the business cycle to another

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  1. 7 May, 06:11
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    A business cycle is a showcase of consitent and successive stages or phrases an economy goes through.

    Changes are caused by exogenous endogenous factors which in simple language is internal and external elements for example weather conditions, unexpected events like an outbreak of war and changes in consumer preference amongst others.
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