Inflation affects everyone in the economy, and it often imposes some costs, although it can also provide some benefits. High rates of inflation as well as deflation are problematic for an economy.
RayeishaDiandree
Inflation is the decline of purchasing power of a given currency over time. ... The rise in the general level of prices, often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.
RayeishaDiandree
Inflation allows borrowers to pay lenders back with money that is worth less than it was when it was originally borrowed, which benefits borrowers. When inflation causes higher prices, the demand for credit increases, which benefits lenders.
That Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc. Inflation measures the average price change in a basket of commodities and services over time.
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alexthinker
how can you apply inflation to you as a student?
Zyrixin
1. I need to know on how to allocate the small resources ( Money) that my parents give to me because if there is an inflation in reduces the value of the money.
2. The prices during may grandmother and grandfather, my mother and my father is not the same with the prices of commodity today that is why I need to save money. I need to become careful in spending my money.
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Answer:
Inflation affects everyone in the economy, and it often imposes some costs, although it can also provide some benefits. High rates of inflation as well as deflation are problematic for an economy.
That Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc. Inflation measures the average price change in a basket of commodities and services over time.
Hope this helps!
2. The prices during may grandmother and grandfather, my mother and my father is not the same with the prices of commodity today that is why I need to save money. I need to become careful in spending my money.