Answer:
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Inflation is the increase in level of prices in an economy, while deflation is a decrease of the prices.
Inflation has a higher price increase, which means there will be less purchases. Deflation has a lower prices, so the quantity or amount of the item will be out of stock quicker.
Answer:
Society's economic system determines the way a society allocates it's scarce resources to produce goods and services.
Option: A
Explanation:
To maintain sustainable development and to ensure a good future towards our present generation optimum use of available resource is required.
That means people will use the resource as per their demand keeping one thing in their mind that we have to preserve this existing resource for our future generation also.
Society (a group of people) allocates the existing resource to produce good and services. Unless an object used in a proper way for the benefit of public it does not called resource.
To face this raising scarcity of resource people needs to be very aware and conscious.
