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What are the types of business cycle

What are the types of business cycle?

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Types of Business Cycle are as follows:

Professor James Arthur categorizes business cycle in three parts as given below:

1. Major and Minor Trade Cycles:

Major trade cycles are which the period of that is very large.
Minor trade cycles are which that occurs during the period of a major cycle. Professor Hanson determines the period of a major cycle between from eight years and thirty three years. Two or three minor cycles arise during the period of a major cycle. Era of a minor cycle is forty months.

2. Building Cycle: Building Cycles are which trade cycles that are associated with construction industry. Era of that cycle range from fifteen to twenty years

3. Long Waves: Period of an extended wave is of fifty years. This was discovered through a Russian economist prof. Kondratief. One or two major trade cycle arise throughout the period of a long wave.

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