What do you mean by trade cycle? Discuss different phases of tade cycle? Explain various methods of trade cycle? What are features of trade cycle? Characteristics of trade cycle.

2. ■1. What is Trade Cycle?
Every country witnesses boom and
depression periodically.
▪︎Depression is characterised by falling
production, falling prices and rise in
unemployment.
On the other hand
▪︎, boom is characterised by rising
production, rising prices and high
employment percentage.
▪︎These changes of boom and depression
are cyclical in nature.
▪︎Hence, these are called Trade or
Business Cycles. Rhythmic fluctuations
taking place in an economy, at intervals, in
the form of boom and depression are
called Trade or Business Cycles.