length of time between purchase and trade of a truck or trailer, based on factors such as balance owed, equipment age, maintenance costs and repair history
More popularly, the business cycle The periodic rhythmical regularity of continuously recurring changes that are assumed to occur in aggregate economic activity The phases of the trade cycle are loosely: a feverishly booming prosperity which ends in an acute crisis or panic; a period of liquidation, heavy unemployment and adjustment popularly known as a recession or depression; and a revival or recovery period that sets off an upsurge that leads to a new boom
recurring fluctuations in economic activity consisting of recession and recovery and growth and decline
The trade cycle is the fluctuations in the rate of economic growth that take place in the economy These fluctuations appear to occur around every five years and have probably occurred ever since economies have occurred! It is the aim of all governments to try to dampen the effects of the trade cycle and get more balanced long-term growth, but so far they have had limited success The peak of the trade cycle is usually referred to as a boom, and the trough as a recession or depression