In your own words explain inflation.

Inflation is the decrease of buying force of given cash after some time. A quantitative gauge of the rate at which the decrease in buying power happens can be reflected in the increment of a normal value level of a bushel of chosen merchandise and ventures in an economy throughout some timeframeExpansion is the decrease of buying force of given cash after some time. A quantitative gauge of the rate at which the decrease in buying power happens can be reflected in the increment of a normal value level of a bushel of chosen merchandise and ventures in an economy throughout some timeframe

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AbsorbingMan AbsorbingMan · Answer 2 · 2022-04-20T15:11:53+02:00

Inflation in terms of economics means :

increase in the prices of goods and comodities.
decrease in the purchasing power of consumer.

Inflation

Inflation may be defined as the decreasing in the purchasing power of the money which is reflected in the increase of the prices of goods and services in the market.

In other words, it is the increase of the goods price over a specific period of time.

One of the cause of inflation is less supply and high demand of goods or services in the market.

Learn more about "inflation" here :

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