WELCOME TO YOU  I heartily welcome you to read about the concept of inflation, It's Types, causes along with measurements or precautions to control inflation and also the concept of trade cycles, causes/phases, Phillips curve (Related to inflation and employment), Deflation and Stagflation. Note Link each topic to the Economy and write the reasons equally which are responsible to a consequence such as inflation. recurring reasons to a topic is ok. Think wider because it is aggregate value. Relate each concept. ------------------------------ Concept of inflation Inflation refers to an increase in general price level is called as inflation. It is a situation in which general price levels rises. the purchasing power of money will decreases or the value of money falls down. It is a continues rise in price value due to more supply of money in the market.  simply, it's a situation where there is more availability of money than the availability of goods produced in the country. Inflat

WELCOME TO YOU I heartily welcome you to read the post on these concepts.  ------------------------------ National Income It is the total value of all goods and services which are produced in a country by all sectors in an year is called as national income. or It is the total market value of goods and services produced in a country, counted without duplication  is called national income. Per capita Income Per capita income = Total national income / Total population. It is the average income earn by all people in the country. When the level of per capita income is more, Automatically the economic growth that is output is also more and that leads to its economic development. Unemployment It is a situation when a labor doesn’t get employment despite of his ability and willingness to work at  the existing wage rate is called unemployment. -- when a labour is eligible and willing to work at a existing current market price, but not in a work is called as unemployment. It is an important meas

WELCOME TO YOU I heartily welcome you to read this post about analysing the terms "Economic growth and Economic development". Share your thoughts as they're very powerful. ------------------------------ Introducing both terms The two terms namely Economic growth and Economic development are the important indicators for measuring the rate of growth in the economy which leads to gradual development. If a country can produce More output, The level of employment will be very high which leads to high level of consumption, Demand, Supply, equal distribution of income, etc. as a result, Gradually there is an improvement in the infrastructure, well-being, growth in both social and economical dimensions. So, We can conclude that the measurement of economic growth is for short period. whereas, Economic development can be achieved with economic growth in long period or long-term. Economic growth Simply the term economic growth refers to an increase in the real output of the country

WELCOME TO YOU I heartily welcome you to read this post on the topic " National Income ". share your thoughts in the comments because they're very powerful. ------------------------------ National income National income is the total value of all final goods and services which are produced in a country during in  a financial year.  --- Simply in other words, It is calculation of all final goods and services which are produced in a country generally in a period of 1 year without double count. Various methods of calculating national income There are 3 types of measuring national income. They are: Output Method Expenditure method Income Method Dame Frances Anne Cairncross, DBE, FRSE, FAcSS (born 30 August 1944 in Otley, England) is a British economist, journalist and academic.  According to Cairncross: national income can be looked in any one of the three ways. As the national income  can be measured by adding up everybodies output , by adding up everybodies income and by add