Question

4. Define the term 'inflation's.​

Answer 1

Explanation:

Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time.

Hope it well help you

Answer 2

Answer:

Inflation is the economic situation when prices are rising over time and money loses value. Inflation causes the purchasing power of money to differ from one time to another.

Hope it helps you.