Question

define inflation and deflation...

Answer 1

The increase on the price of goods and services is called inflation.
And
The decrease in the price of goods and services is called deflation.
HOPE IT HELPS

MARK BRAINLIEST

Answer 2

Hi Buddy

Your answer:

Inflation occurs when the prices of goods and services rise, while deflation occurs when those prices decrease. The balance between the two economic conditions, opposite sides of the same coin, is delicate and an economy can quickly swing from one condition to the other.