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Define Inflation. - ICSE Class 10 - Economics

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Questions

Define inflation.

What is inflation?

Solution

Inflation is defined as a sustained increase in the aggregate price level. It refers to a state of rising prices and not a state of high prices.

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APPEARS IN

 2013-2014 (March) (with solutions)
Question 9.1 | 5.00 marks
 2012-2013 (March) (with solutions)
Question 10.2 | 5.00 marks
Solution Define Inflation. Concept: Concept for Demand and Supply.
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