Title: (Optional) Describe the characteristics of each phase of the business cycle.
Course: Opportunities in Global Trade (12056-I) > Section: Exploring the Realities and Fluctuations of the Global Economy

Description should include the four phases of the business cycle (i.e., prosperity, recession, depression, recovery) and the characteristics of each phase.

Process/Skill Questions:

- How does government attempt to affect business cycles?
- How can a country’s business cycle affect international trade?
- How is the standard of living affected by a country’s business cycle?
- What is the role of consumer confidence in the economy?
- Which business cycle phase is the U.S. (or other selected country's) economy currently experiencing? What are the effects on business? On consumers?
- What is the effect on the global marketplace when a country’s economic situation stays in one cycle for a prolonged period?