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8 Ways to improve your leadership skills
Leaders are the heralds of growth, advancement, and success of an organization. They are accredited for its non-performance. In addition...
What is Inflation?
What is inflation
Inflation refers to the increase in prices of any goods and services, whether essential such as food, clothing, housing rent, property (apartments, land) prices, transport (cabs, buses, trains), or non-essential such as cosmetics, jewellery, cars, etc.
Let’s consider a real-life scenario to understand inflation. Suppose the public transport (buses, trains) of a city stops for a month because the drivers are protesting demanding an increase in their salaries. What will happen? A lot of people ( let’s assume around 60% people of a city) are dependent on public transport and when they aren’t operational, they think of other options to go to their workplaces right? And it is cabs and autos, right?
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Deflation
The opposite of inflation is deflation. It happens when the price of a commodity falls, which occurs rarely.
Now you know that inflation has a direct impact on the economy of a country.
To learn about Economy, click here.
Citations :
Skillioma (May 20, 2022) What is Inflation?. Retrieved from https://www.skillioma.com/what-is-inflation/.
"What is Inflation?." Skillioma - May 20, 2022, https://www.skillioma.com/what-is-inflation/
"What is Inflation?." Skillioma - Accessed May 20, 2022. https://www.skillioma.com/what-is-inflation/
Skillioma May 23, 2020 What is Inflation?., viewed May 20, 2022,<https://www.skillioma.com/what-is-inflation/>
Skillioma - What is Inflation?. [Internet]. [Accessed May 20, 2022]. Available from: https://www.skillioma.com/what-is-inflation/
"What is Inflation?." Skillioma [Online]. Available: https://www.skillioma.com/what-is-inflation/. [Accessed: May 20, 2022]
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