100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Summary Economics Edexcel - 2.1 Flashcards - Inflation $4.39   Add to cart
Quickly navigate to
Preview
  2.  
  3. PEARSON (PEARSON)
  4.  
  5. Economics A
  6.  
  7. Unit 2 - The UK economy - performance and policies

Summary

Summary Economics Edexcel - 2.1 Flashcards - Inflation
 3 views  0 purchase
  • Course
  • Unit 2 - The UK economy - performance and policies
  • Institution
  • PEARSON (PEARSON)

Flashcards that were created and used by an A* student. Detailed explanations, diagrams and definitions, along with associated questions. These notes are in a FLASHCARD format designed for students who want to achieve TOP grades by testing themselves or getting others to test them. Enjoy :)

Preview 2 out of 9  pages

Document information

  • December 31, 2023
  • 9
  • 2023/2024
  • Summary

Subjects

  • economics
  • edexcel
  • inflation

Written for

  • A/AS Level
  • PEARSON (PEARSON)
  • Economics A
  • Unit 2 - The UK economy - performance and policies
All documents for this subject (139)

Seller

avatar-seller
erinhurst

Reviews received

Content preview

Inflation

What is meant by inflation ?
What is meant by deflation ?
What is meant by disinflation ?




QUESTION




Inflation: a sustained rise in the average price level over time.



Deflation: a sustained fall in the average price level over time.



Disinflation: a fall in the rate at which the general price is rising.




ANSWER

, CPI - consumer price
index
What is the CPI?
What is the CPI used for?
What is the CPI represented as ?
What is the base year?
How to calculate percentage change?


QUESTION


CPI: is the weighted average of items on which people spend their money.



The rate of inflation is measured by the UK by changes in the CPI.
• It is also used to make international comparisons of the rate of inflation.


The CPI is an index number. This means it is a number shown as a percentage relative to the
base year.
The base year is given the value 100.

The percentage change is the CPI between the two years is inflation rate.
Percentage change = (new - old)
Old




ANSWER

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller erinhurst. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $4.39. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82215 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$4.39
  • (0)
  Add to cart