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Economics (Inflation (Causes of Inflation (High demand, Higher production…
Economics
Inflation
Rising prices of goods and services
Consumer Price Index (PCI)
Causes of Inflation
High demand
Higher production costs
Higher supply of money
Expectation
Asset holders win - gain money
Fixed income earners lose, exporting firms
Unemployment
Cyclical Unemployment
Due to cycles in economic activity
Structural unemployment
Due to structural changes in economy
Seasonal unemployment
Due to changes in seasons
Hardcore unemployment
Don't want to work
Cannot work
Sick
Injured
Disabled
Unqualified
Frictional unemployment
In between jobs
Production
Capital Production
Entrepreneur Production
Labour Production
Land Production
Law Of Supply and Demand
Scarcity
Limited resources
Trade
Consumers
Suppliers
Price mechanism
Relative pricing
Equilibrium Market Price ($ Demand = $ Supply
Opportunity Costs
Sacrificing the ability to buy one thing by buying another
Consumer choices