Business Cycle occurs due to numbers of factors and causes, these causes are classified into:External andInternal Causes & Factors of Business Cycle
Fluctuations in the aggregate economic activity represents business cycle. If there are downswing and upswing trends in a particular sector of the economy, they will not present trade cycle.
All the four business cycle phases are cyclical but there is no explicit period or intervals for these business cycle occurrences. Below are the four business cycle phases or trade cycle phase.
They are of two kinds of elements of Business Cycle Internal & External Elements. The internal or endogenous forces are the elements within business activity itself.