What is another term commonly associated with the business cycle?

The term "trade cycle" is often used interchangeably with the business cycle. The business cycle refers to the fluctuations in economic activity that an economy experiences over a period, typically represented by periods of expansion and contraction. The trade cycle emphasizes similar fluctuations, particularly in terms of trade and commerce activities within the economy. This term captures the cyclical nature of economic upturns and downturns as influenced by consumer demand, business investment, and overall economic performance.

In contrast, the other terms do not directly correlate with the concept of the business cycle. "Economic downturn" specifically denotes a period of reduced economic activity, which is a phase within the business cycle rather than a synonym. "Market equilibrium" refers to the state where supply equals demand in a market, illustrating a concept more closely related to microeconomics than the broader economic fluctuations of the business cycle. Lastly, "asset cycle" pertains to the fluctuations in value of assets, which is more focused on investment and financial markets rather than overall economic activity.