What is a record of economic increases and decreases over time called?

The term that describes a record of economic increases and decreases over time is the business cycle. The business cycle refers to the fluctuations in economic activity that an economy experiences over a period, usually characterized by phases of expansion (growth) and contraction (recession). During the expansion phase, economic indicators such as GDP, employment, and consumer spending rise, leading to increased economic activity. Conversely, during a contraction phase, these indicators decline, indicating a slowing economy.

Understanding the business cycle is crucial for economists and policymakers as it helps in analyzing past economic performance and making predictions about future economic conditions. Identifying the stages of the business cycle—expansion, peak, contraction (recession), and trough—can inform decisions related to fiscal and monetary policies aimed at stabilizing the economy.

Other terms mentioned, such as economic trend and growth pattern, may relate to general observations about long-term economic performance or specific growth behaviors but do not encompass the complete nature of periodic economic fluctuations captured in the concept of the business cycle. Market fluctuation typically refers to short-term changes in market prices and does not adequately reflect the broader scope of economic changes over time involved in the business cycle.