Teresa owns and operates a store in a country experiencing a high rate of inflation. In order to prevent the value of money in her cash register from falling too quickly, Teresa sends an employee to the bank four times per day to make deposits in an interest-bearing account that protects the store's revenues from the effects of inflation. This is an example of the

Shoe leather costs

Explanation:

Inflation can be defined as the constant rise in the prices of goods and services within an specific period of time. It can also be described as the increase in the cost of living for the average individuals as they now struggle to buy products in the market whose price has been increased way above their normal budget. It could be as as result of many factors which such as the repayment of a large amount of money borrowed by the government, increase in the rate at which government spends money.

Shoe leather costs can be described as the amount of time and effort an individual spends to reduce the effect caused by high prices of goods.

In the scenario described above, Teresa sends her employee to the bank four times per day to pay in money into the account inorder to curb the effect of inflation, this is described as shoe leather costs because regular visits to the bank tends to wear off the shoes of the employee.

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