ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Prices for groceries and other daily needs go down from year to year.
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Prices for groceries and other daily needs stay about the same from year to year.
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Prices for groceries and other daily needs go up from year to year.
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Prices for groceries and other daily needs are tightly regulated.
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Detailed explanation-1: -Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
Detailed explanation-2: -Which of the following are correct with regards to a free-market economy? In free markets the price of a product depends on how much consumers are willing and able to buy and how much the producers are willing and able to sell.
Detailed explanation-3: -: the economy of a nation. specifically : the economy of a nation as a whole that is an economic unit and is usually held to have a unique existence greater than the sum of the individual units within it.
Detailed explanation-4: -A national economy is the production, distribution and trade, consumption of goods and services by different agents of a nation.