The term ’inflation’ is used in many senses and it is difficult to give a generally accepted, precise and scientific definition of the term. Popularly inflation refers to a rise in price-level or fall in the value of money. Kemmerer states that,” inflation is too much currency in relation to the physical volume of business being done”.

Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 
Share this article :

Post a Comment

Fathimath Sama
Copyright © 2012. Oscar Education - All Rights Reserved