Inflation is a sustained rise in the general level of prices of goods and services.

question 19 options:
true
false

The answer is True

Explanation:

Inflation refers to the sustained or considerable rise in the general price level of goods and services over a period of time

Hope this helps!

True

Explanation:

Inflation is economic term defines as rise in price level and consequent decrease in purchasing power of currency. By purchasing power it means the amount of goods which can be bought with the given amount of money. Hence after inflation amount of goods which can be bought is lesser than which one can but before inflation. To quantify Inflation or measure inflation, Inflation rate is used. Inflation rate is defined as percentage change in price index over a specific period of time.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know