The key is to understand what inflation is. The definition of inflation that economists use is "an excessive amount of cash chasing too few goods." If you happen to break this down, you will notice parts. There is the quantity cash part and the products part. The word "goods" means anything that you simply buy with cash, which might be things, services, expertise etc. Notice that there's a relationship...
Consumer Spending Data Metrics
What's inflation? To really understand inflation, it is advisable know what cash is and why we use it. Cash represents the worth of hard work and producing things that other folks wish to use. The measurement of this production or hard work is completed with units of money. If I spend $20 to purchase a can opener, that $20 represents an hour of work serving meals at a restaurant as an example. You'll be...
What's inflation? To really understand inflation, you could know what cash is and why we use it. Money represents the worth of hard work and producing things that different folks want to use. The measurement of this production or hard work is completed with units of money. If I spend $20 to buy a can opener, that $20 represents an hour of work serving food at a restaurant as an example. You'll be able to...