An inflation is a general or continuous increase in prices. But sad to say inflation lowers the standard of living of the people because inflation depresses the purchasing power of money, reinforces the unequal distribution of income, condenses the competitiveness of the economy, and encourages imports.
As a student the two application of the lesson to me as a student are as follows:
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.
For information regarding the topic please open the link below:
Answers & Comments
Verified answer
TWO APPLICATION OF THE LESSON ON INFLATION
An inflation is a general or continuous increase in prices. But sad to say inflation lowers the standard of living of the people because inflation depresses the purchasing power of money, reinforces the unequal distribution of income, condenses the competitiveness of the economy, and encourages imports.
As a student the two application of the lesson to me as a student are as follows:
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.
For information regarding the topic please open the link below:
What is the inflation
brainly.ph/question/3535854
brainly.ph/question/3691113
brainly.ph/question/2071432
#Letsstudy