Commerce Study™

● Class XII (CBSE) ● Economics ● Handwritten Notes with Numericals

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Built-in inflation 🌳 It occurs when workers expect their salaries or wages to increase when prices of goods and services increase to help maintain their living costs. 🌳 Built-in inflation can be viewed as a double-edged sword. As laborers demand higher pay, the cost of production increases, which can raise the cost of living.

Stagflation 🌳 Stagflation is characterized by slow economic growth and relatively high unemployment or economic stagnation which is at the same time accompanied by rising prices (i.e. inflation). 🌳 Stagflation can be alternatively defined as a period of inflation combined with a decline in gross domestic product (GDP).

Hyperinflation 🌳 Hyperinflation is a term to describe rapid, excessive and out-of-control general price increases in an economy. 🌳 While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.

Deflation 🌳 Deflation is the general decline of the price level of goods and services. 🌳 Deflation is usually associated with a contraction in the supply of money and credit, but prices can also fall due to increased productivity and technological improvements.

Inflation 🌳 Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.

⬇️ ECONOMICS IMPORTANT TERMS ⬇️

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Public notice regarding release of Admit Card for CUET-UG examination scheduled on 21st, 22nd, 23rd and 24th May 2023.

🎓 Levels of Management (Functions)

🎓 Levels of Management

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