Inflation Essay This free inflation essay is created for the 9th, 10th, 1st Year, and 2nd Year students. You can remove the headings in exams. What is Inflation, and How Does it Impact the Economy? Introduction Inflation is a term used to describe a rise in the general level of prices for goods and services over time. In short, it means that things cost more than they used to. Inflation impacts every sector of the economy and produces a great impact. What Causes Inflation? Inflation typically occurs when aggregate demand—the total amount of money spent in an economy—exceeds aggregate supply—the total amount of goods and services available. This can happen when there is too much money chasing too few goods. When the opposite happens—when there is too much supply relative to demand—deflation occurs, which generally causes prices to fall. Inflation can also be caused by other factors, such as increases in taxes or government spending, changes in interest rates, or e...
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