The terms of business cycle which includes expansion, growth, peak, recession describes the Ups and down of the hotel industry
Business cycle refers to the cyclical upswings and downswings of a business in its output, employment, income, sales etc
The 4 stages of business cycle includes:
- expansion
- peak
- contraction
- trough/recession.
In conclusion, the terms of business cycle which includes expansion, growth, peak, recession describes the Ups and down of the hotel industry
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