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Language is currency and we have to look at how we’re allowing it to be devalued,”

If Demand and Supply of a product go up by 50% in a year.what does that do to the price of said product ??

What are the reasons for inflation in a democracy?

Answer:

There are various reasons why inflation may occur. One factor would be an increase in the demand for products. If people have more money or more access to money, they will generally spend it. Federal Reserve Board policies may impact the money supply. If the Federal Reserve Board lowers interest rates, it makes it easier for people and businesses to borrow money. If businesses borrow money to expand their operations, this should create more jobs, increasing employment and giving people more money to spend. Likewise, if interests rates drop, people may take out loans in order to buy products. In these situations, the demand for products should rise, and if supply doesn’t increase, prices will also rise.

The government may also be responsible for inflation. If government spending increases, this will also increase the demand for products and services. With more money in the economy and with an increased demand for products, inflation would occur.

2. The actual cost of production increases, because the raw material used to produce goods gets higher, or the minimum wage is lifted so that the cost of employing people is higher. This can lead to an increase in the overall prices of goods that make it to the consumer.

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