Inflation- Economic Costs Intro/Vocab

0.0(0)
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/4

flashcard set

Earn XP

Description and Tags

Econ. Class

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

5 Terms

1

Inflation

The increase in the general price levels of goods and services in an economy over a period of time, leading to a decrease in purchasing power.

<p><span style="color: red"><strong>The increase in the general price levels of goods and services in an economy over a period of time, leading to a decrease in purchasing power. </strong></span></p>
2

Costs

Reduced consumer spending, increased uncertainty in the economy, and potential erosion of savings.

<p><span style="color: red"><strong>Reduced consumer spending, increased uncertainty in the economy, and potential erosion of savings. </strong></span></p>
3

Purchasing Power

The amount of goods and services that can be purchased with a unit of currency, which declines during inflation.

<p><span style="color: red"><strong>The amount of goods and services that can be purchased with a unit of currency, which declines during inflation. </strong></span></p>
4

Consumer

A person or entity that purchases goods and services for personal use.

<p><span style="color: red"><strong>A person or entity that purchases goods and services for personal use. </strong></span></p>
5

Businesses

Entities that provide goods and services to consumers.

<p><span style="color: red"><strong>Entities that provide goods and services to consumers. </strong></span></p>