Question

Explain the significance of inflation

Answer 1

The definition of inflation in the field of economics is "mean increased money supply, but the general public often refer to a sustained increase in the general price level of goods and services in an economy over a period of time, causing due to increased demand, "Too much money chasing too few goods." It can also be seen as a lack of value in the currency.

Answer 2

Inflation makes money more common and therefore raises prices. this causes promblems due to wages not rising as well.