Question

What is hyperinflation ?

Answer 1

It is a situation in which the value of money increases and the prices soar. Due to this to even buy an otherwise cheap thing we will have to pay a lot of money.

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Answer 2

When World War I, started in 1914, a US Dollar was worth a reasonable four German "Marks" ( Marks means dollars). In 1919, after the war ended, a US Dollar was worth about nine German Marks. That means that Germans needed to spend twice as much money to buy the same items after the war. In November of 1921, one US Dollar was worth 330 Marks. A year later, one US Dollar was worth 800 German Marks. By November of 1923, one US Dollar could buy 4,210,500,000,000 Marks! Luckly by December of 1923, the Germans cut 12 zeros from the prices of their products. That the German economy recovered was a miracle!