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Inflation
by 趙永祥 2015-08-15 07:26:55, Reply(0), Views(649)



BusinessDictionary.com
TERM OF THE DAYAUGUST 14, 2015
f   t

A sustained, rapid increase in prices, as measured by some broad index (such as consumer price Index) over months or years, and mirrored in the correspondingly decreasing purchasing power of the currency. It has its worst effect on the fixed-wage earners, and is a disincentive to save.

There is no one single, universally accepted cause of inflation, and the modern economic theory describes

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USAGE EXAMPLE
In the 1970's, inflation was very high and consumers suffered because the prices of necessary commodities like food, gasoline, and homewares increased rapidly from year to year.
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Economic and social system in which all (or nearly all) property and resources are collectively owned by a classless society and not by individual citizens.
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