Inflation means an upward change in the prices of
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Inflation means the upward changein the prices of goods and products.
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One primary macroeconomic concern in market economies is the maintenance of stable prices, or the control of inflation. Inflation is a situation where prices are persistently rising, thereby reducing the value of money.
It refers to a situation of constantly rising prices of commodities and factors of production. The opposite situation is known as deflation—a situation of constantly falling prices of commodities and factors of production.
Inflation can have severe consequences. Inflation is an increase in the general level of prices. It does not mean that prices are high, but, rather, that they are increasing. For example, assume that over the past 2 years the price of a particular combination of consumer goods in country A has been stable at Rs. 100
It refers to a situation of constantly rising prices of commodities and factors of production. The opposite situation is known as deflation—a situation of constantly falling prices of commodities and factors of production.
Inflation can have severe consequences. Inflation is an increase in the general level of prices. It does not mean that prices are high, but, rather, that they are increasing. For example, assume that over the past 2 years the price of a particular combination of consumer goods in country A has been stable at Rs. 100
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