Economic Recession: A period of temporary economic decline during which trade and industrial activities are reduced, typically identified by a fall in GDP in two successive quarters.
Business Cycle:The natural rise and fall of economic growth that occurs over time, including periods of expansion, peak, contraction, and trough.
Gross Domestic Product (GDP):The total value of all goods and services produced over a specific time period within a country's borders; it is used as a broad indicator of an economy's overall health