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A general rise in price is usually referred to as inflation; however, in Economics, inflation refers to an increase in the supply of currency, which in turn causes a general increase in prices.
The more money that's circulating, the less each unit is worth; thus, the price of everything goes up.
What else can I help you with?
When prices rise what happens to income?
When prices rise, income buys less.
When inflation occurs do prices fall or rise?
rise
How much are fuel prices expected to rise this summer?
A driving factor in the rise is the Gulf oil crisis. Prices are expected to rise at least 7% over the summer.
What is the rise of prices called?
That is inflation.
Why do the price of things rise when gas goes?
When gas prices rise, other products soon follow. This is a sign of inflation, where the general value of money decreases and prices rise.
What is a rise in prices brought about by an increase in the ratio of currency?
a rise in prices that occurs when currency loses its buying power
Explain the process of supply and demand and how prices rise and fall?
Prices will fall when the demand is much lower than the supply. When the supply is lower, there is greater demand, therefore, the prices will rise.
Happens when prices rise quickly?
an inflation ;)
What is the effect on the when the economy is in decline?
prices rise
Why would people buy more today because they think the prices will rise?
People will horde if they think the prices will rise as long as they can store the product.
What causes house prices to rise?
Supply and demand is what causes house prices to rise. If there are few houses for sale, but many people looking to buy a house, the price of those few houses will rise.
A rise in the general level of prices is called?
inflation.
