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1. The Maturation Stage: Businesses can't keep up with the demand for their products--they can't supply enough products for consumers. They have to borrow money to invest in more equipment in order to expand their production capabilities. They have to hire more people to make the products and pay them more because they are competing with other companies who also want to hire more people. This stage of the business cycle is known as the maturation stage..// 

2. The Contraction Or Recession Stage: The maturation stage might go on for a long time but at some point, inflation rears its ugly head because more people are employed at higher costs and the costs of materials go up (since companies are buying more and more materials to make their products).//

3. The Revival Stage: At some point in the recession and contraction phase, things start to turn around. The stock market, after prices have gone down due to reduced profits, begins to move up again.// 

4.The Expansion Stage:In the expansion stage of the business cycle, the revival continues and many more businesses benefit from a good economy--not just a few businesses in specific industries.