Business cycles affect all individuals within the population. Whether it is the general public, made up of customers and consumers, or the business world, from small local businesses to large multinational organizations. Obviously, all governments aim for economic growth within societies, in order to achieve national goals. progression. This can include various factors such as high levels of employment, investment and general business confidence. However, things don't always go as planned. For example, if economic growth slows, this can have serious consequences, such as increased unemployment levels, reduced consumer spending, and possibly the bankruptcy of consumable companies. In this assignment, I will explain the nature, causes and implications of the business cycle. , addressing the four steps individually. Business cycle theory actually began a long time ago with the idea of ​​“long waves” (Reijnders, 1990), and Kondratieff was one of the first economists to apply this principle. He thought that "the duration of the long wave was 48 to 60 years." Another economist, Kuznet, believed that in addition to the long waves, there were smaller cycles within this long period of time that were intermediates between its prolonged long waves that lasted between 6 and 70 years. These interim periods were known as short-term business cycles. Finally, it was evident that the system of short-term business cycles was more accurate and efficient than other theories. They enabled a more reliable prediction of future trends based on previous data. These cyclical movements were based on the economic position of the population over certain periods of time or until specific periodic changes...... middle of article...... 5) William Anderson (November 24, 2004 ), Why Business Cycle TheoryMatters [Online], available at: http://www.mises.org/fullstory.aspx?Id=16646) Lakshman Chuthan and Anirvan Banerji (2004), Beating the Business Cycle [Online], available at: http://www.randomhouse.com/doubleday/currency/catalog/display.pperl?isbn=9780385509534&view=excerpt7) Worthington, I. and Britton, C. (2003), The Business Environment: The Fourth Edition, Pearson Education Ltd., Great Britain.8) Zanny Minton Bedoes, The Great Thrift Shift, September 22, 2005, accessed: Monday March 6, 2006, [Online] Available at: http://www.economist.com/surveys /displaystory.cfm?story_id=44183289) Samuel Brittan, Financial Times: Britain's delusion of Prosperity, 01/31/02 Accessed: Monday March 6, 2006, [Online] Available at: http://www.samuelbrittan.co. uk/text105_p.html