explain inflation in details?
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Answer:
inflation is a quantitive measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time... often expressed as a percentage, inflation this indicates a decrease in the purchasing power of a nation's currency.
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Rising the price of the product is called inflation.
Explanation:
- Rising the price of the goods create a unfavourable effect among the people in the economy.
- Particular period of time inflation will occur in the economy.
- The main types of inflation are Demand - Pull inflation and Cost - Push inflation. These both are also a reasons for inflation.
- Demand pull inflation occurs when the demand of the particular product was high compare to availability of the particular product.
- Creeping, walking, galloping and hyperinflation is also a type of inflation.
- Inflation reduces the value of currency in a particular period of time.
- Apart from inflation, Stagflation, deflation and disinflation also occur in the economy.
To Learn More...
1.Explain the relationship between inflation and unemployment in detail
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2.Explain in detail negative effects of inflation.
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