DMPQ- Explain the following term: • Demand pull inflation • Cost Push Inflation
Demand Pull Inflation: The term demand-pull inflation usually describes a widespread phenomenon. That is, when consumer demand outpaces the available supply of many types of consumer goods, demand-pull inflation sets in, forcing an overall increase in the cost of living. When demand surpasses supply, higher prices are the result. This is demand-pull inflation. A low … Read more DMPQ- Explain the following term: • Demand pull inflation • Cost Push Inflation