PEAK

 Peak:

•  The term peak refers to the top or the highest point of the business cycle. In the later stages of expansion, inputs are diflcult to find as they are short of their demand and therefore input prices increase.
•  Output prices also rise rapidly leading to increased cost of living and greater strain on fixed income earners.
•  Consumers begin to review their consumption expenditure on housing, durable goods etc. Actual demand stagnates. 
• This is the end of expansion and it occurs when economic growth has reached a point where it will stabilize for a short time and then move in the reverse direction.