Asked by
praveen brilliance
on Nov 22, 2024Verified
In periods of inflation, the purchasing power of money increases.
Purchasing Power
The ability of an individual or group to buy goods and services, influenced by their income, savings, and the prices of goods and services.
Inflation
An increase in the general level of prices of products in an economy over a period of time.
- Understand the impact of inflation on purchasing power.
Verified Answer
KR
Learning Objectives
- Understand the impact of inflation on purchasing power.