Inflation is defined and a distinction is made between causal and neutral definition of inflation. Inflation is regarded as a continuous, considerable rise in prices in general and is preferred to a definition that indicates cause such as "too much money chasing too few goods". One also needs to distinguish between a rise in the price of an individual good and the rise in prices in general as well as between a once off increase and a continuous increase.
Questions about Inflation01: Definition of inflation
Want more info about Inflation01: Definition of inflation?
Get free advice from education experts and Noodle community members.