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There was once a woman named Jane and a man named Jim who owned a business together.
Their business was doing phenomenal. The demand for goods and services were higher than ever before. Everyone who wanted to work was working because wages were so high. This period was also known as prosperity.
Eventually, the economy slowed down beginning the phase of recession. This worried Jane and Jim because demand began to decrease, unemployment began to rise, and production was lowered.
The recession soon began to deepen causing depression. This was a long period of high unemployment, weak consumer sales, and business failures. Jim and Jane were devastated.
This economic downturn didn't last forever for Jane and Jim. Soon they began recovery where unemployment began to decrease, demand for goods and services increased, and GDP began to rise again.
Jim and Jane lived happily ever after with their business after experiencing the business cycle.
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