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Definition: Is a policy that is laid down by the central bank, to achieve inflation, consumption, growth & liquidity
Sentence:

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Definition: The economy is bad, Inflation is low (deflation), and unemployment rate is high.
Sentence: Many people lost their jobs during the depression.
Example: The Great Depression was the biggest economic depression in US history.

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Definition: The economy is declining, Inflation is falling, and unemployment rate is rising. AKA a contraction.
Sentence: Recession generally occurs when there is a widespread drop in spending.

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Definition: The economy is bad, Inflation is low (deflation), and the unemployment rate is high.
Sentence: In a trough it becomes difficult for debtors to pay off their debt.
Example: Rate of interest decreases, so banks prefer to not lend money.

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Definition: The economy is improving, Inflation is rising, and the unemployment rate is falling.
Sentence: An educated workforce is argued to be one of the important prerequisites for economic expansion and advance.
Example: The economic "boom" after WW1, when new inventions were created and the assembly line was produced.

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Definition: The economy is good, Inflation is high, and unemployment rates are low.
Sentence: The smaller company was at its peak, seeing numbers they never hoped to see.
Example: The economic factors, such as production, profit, sales, and employment, are higher, but do not increase further.

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Definition: The economy is declining, Inflation is falling, and the rate of unemployment is rising.
Sentence: Economic contraction is the prime force that is driving companies to lay off workers.
Example: The Great Depression was the biggest economic contraction in US history.

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Definition: A cycle or series of cycles of economic expansion and contraction.
Sentence: The wheel factory shuts down every July for cleaning and maintenance, this is ideal because July is a low point in the business cycle for wheel sales.
Example: Going from a peak in the cycle to a trough.