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DEFINITION OF INFLATION AND TYPES OF INFLATION

          DEFINITION OF INFLATION AND TYPES OF INFLATION

Inflation may be defined as a persistent rise in the general price level of goods and services.

meaning of economics

DEFINITION OF INFLATION

Inflation occurs when the volume of purchases i permanently running ahead of production, with too much money in circulation chasing too few goods.

  1. economic tools for nation building
  2. budgeting
  3. factors affecting the expansion of industries
  4. mineral resources and the mining industries
  5. demand and supply
  6. types of demand curve and used
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WEED AND THEIR BOTANICAL NAMES
1. ENVIRONMENTAL FACTORS AFFECTING AGRICULTURAL PRODUCTION
2. DISEASES
3. 52. SOIL MICRO-ORGANISMS
4. ORGANIC MANURING
5. FARM YARD MANURE
6. HUMUS
7. COMPOST
8. CROP ROTATION
9. GRAZING AND OVER GRAZING
10. IRRIGATION AND DRAINAGE
11. IRRIGATION SYSTEMS
12. ORGANIC MANURING
13. FARM YARD MANURE
14. HUMUS
15. COMPOST
16. CROP ROTATION

  1. IRRIGATION AND DRAINAGE
    19. IRRIGATION SYSTEMS
    20. INCUBATORS
    21. MILKING MACHINE
    22. SIMPLE FARM TOOLS
    23. AGRICULTURAL MECHANIZATION
    24. THE CONCEPT OF MECHANIZATION
    25. PROBLEMS OF MECHANIZATION
    26. SURVEYING AND PLANNING OF FARMSTEAD
    27. IMPORTANCE OF FARM SURVEY
    28. SURVEY EQUIPMENT
    29. PRINCIPLES OF FARM OUTLAY
    30. SUMMARY OF FARM SURVEYING
    31. CROP HUSBANDRY PRACTICES
    32. PESTS AND DISEASE OF MAIZE- ZEA MAYS
    33. CULTIVATION OF MAIZE CROP
    34. OIL PALM
    35. USES OF PALM OIL
    36. MAINTENANCE OF PALM PLANTATION
    37. COCOA


38.
39. PROCESSES IN COCOA CULTIVATION
HOLING AND LINING
40. YAM
41. LAND PREPARATION FOR YAM
42. DEPT OF PLANTING
43. SPACING OF YAM
44. PLANTING DEPT OF YAM
45. STORAGE OF YAM
46. STAKING OF YAM
47. HARVESTING OF YAM
48. COWPEA
JUTE
49. FORAGE CROP AND PASTURE
50. FORAGE GRASSES
51. SILAGE
52. PASTURE
53. TYPES OF PASTURE
COMMON GRASSES AND LEGUMES
54. GRASSES
55. LEGUMES
56. ESTABLISHMENT OF PASTURES
57. 201. FORAGE PRESERVATION
58. HAY SILAGE
59. FORESTRY IMPORTANCE OF FORESTRY 206. FOREST MANAGEMENT FOREST REGULATION DEFORESTATION AFFORESTATION
60. DISEASES AND PESTS OF CROPS
61. MAIZE SMUT
62. RICE BLAST
63. MAIZE RUST
64. LEAF SPOT OF GROUNDNUT
65. COW-PEA MOSAIC
66. COCOA BLACK POD DISEASE

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  1. BALANCED DIETS
    141. LACTATION DIETS
    142. MALNUTRITION
  2. RINDER PESTS
    148. NEWCASTLE DISEASE
    149. BACTERIA DISEASES
    150. ANTHRAX
    151. BRUCELLOSIS
    152. TUBERCULOSIS
    153. FUNGAL DISEASES
  3. PROTOZOAN DISEASES
    155. TRYPONOSOMIASIS

    159. TAPE WORM
    160. ROUND WORM OF PIGS
    161. LIVER FLUKE
    162. ECTO PARASITES
    163. TICK

          TYPES OF INFLATION

There are four main types of inflation.

 These are:

  •  Demand-pull inflation: Demand-pull inflation occurs when consumers have high purchasing power, leading to increases in aggregate demand without a corresponding increase in supply. In other words, this inflation occurs when the demand for goods and services is greater than their supply. The factors responsible for this type of inflation may be due to population increase; increase in workers’ salaries and wages.
  •  Cost-push inflation: Cost-push inflation occurs when increases in cost of production are passed on to consumers in the form of high prices of goods and services are pushed up by rising costs.

  •  Hyper-inflation: Hyper-inflation, also known as galloping or run-away inflation, occurs when a persistent inflation becomes uncontrollable and the value of money keeps declining rapidly. Prices of goods and services rise at a fast rate, leading to money loosing its value or its ability to buy goods. War, budget deficits, etc are the major cases of hyper-inflation.

  •  Persistent or creeping inflation: Persistent or creeping inflation, also known as chronic inflation, occurs when there is a slow but steady rise in the volume of purchasing power and fall in supply of goods and services. In other words, when inflation involves a slow but steady rise in the general prices of goods and services, it is known as creeping inflation.
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