✅ Option a — expansion, peak, contraction, and trough
Paper
Paper 4: Business Economics
Weightage
5%
Key Topics
Phases, Features, Causes
Business Cycles describe the recurring fluctuations in economic activity — Expansion, Peak, Recession, and Trough. This chapter covers the phases, features, and causes of business cycles, along with theories explaining why economies go through regular boom-bust patterns.
View Official ICAI SyllabusExam Strategy Tip
This is a lower-weightage chapter but easy to score. Focus on memorizing the four phases and their characteristics. Questions are usually straightforward.
The lowest point in the business cycle is referred to as the:
A leading indicator is:
Which of the following is not a characteristic of business cycles?
Economic recession shares all of these characteristics except:
The different phases of a business cycle:
Which of the following is not an example of coincident indicator?
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