Inflation

Q. The increase in prices of goods over a period of time is known as .

1. over pricing
2. inflation
3. expenditure
4. cost of living

Q. Who are the victims of inflation?

1. CEOs of companies
2. Small-scale vendors
3. Construction workers
4. Pensioners

Q. What is the continuous rise in prices over a period of time termed as?

1. Deflation
2. Inflation
3. Cost of living
4. Budgeting

Q. What do you mean by cost of living?

1. Minimum amount required to buy the essentials
2. Maximum amount required to buy the essentials
3. Minimum amount required to buy luxuries
4. Maximum amount required to buy luxuries

Q. Cost of living is the maximum amount required to buy the essential requirements of everyday life.

1. False
2. True

Q. In which situation do the prices rise continuously over a period of time?

1. Reflation
2. Recession
3. Deflation
4. Inflation

Q. The price of onions was ₹50 per kg last month, but now it is ₹80. What is this condition in the economy called?

1. Deflation
2. Inflation
3. Development
4. Recession

Q. What is the name of the process when the price of a product increases over time? How does it affect people?

1. Depreciation, people are able to buy whatever they want
2. Inflation, not everyone can buy products at high prices
3. Inflation, the prices of commodities get less over time
4. Deflation, people are able to buy whatever they want