Differentiate between seasonal component and cyclical component.

Question

Accepted Answer

| Feature | Seasonal Component | Cyclical Component |
|---------|-------------------|-------------------|
| Period | Less than one year | More than one year (2-15 years) |
| Regularity | Very regular and predictable | Less regular |
| Examples | Festival demand, seasonal sales | Boom and recession cycles |
| Cause | Natural factors, man-made customs | Economic factors |