Black Sea and CIS Countries Business cycle

The recurring and fluctuating levels of economic activity that an economy experiences over a long period of time. The five stages of the business cycle are growth (expansion), peak, recession (contraction), trough and recovery. At one time, business cycles were thought to be extremely regular, with predictable duration, but today they are widely believed to be irregular, varying in frequency, magnitude and duration. For detail information visit: http://goo.gl/5ITbXRead less