Written by students who passed Immediately available after payment Read online or as PDF Wrong document? Swap it for free 4.6 TrustPilot
logo-home
Previously searched by you
Previously searched by you
logo
To add items to your wishlist, you must be logged in
Summary

Summary Economics Edexcel - 2.1 Flashcards - Inflation

Rating
-
Sold
-
Pages
9
Uploaded on
31-12-2023
Written in
2023/2024

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 :)

Show more Read less
Institution
PEARSON (PEARSON)
Module
Unit 2 - The UK economy - performance and policies

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
Report Copyright Violation

Written for

Study Level
A/AS Level
Examinator
PEARSON (PEARSON)
Subject
Economics A
Unit
Unit 2 - The UK economy - performance and policies

Document information

Uploaded on
December 31, 2023
Number of pages
9
Written in
2023/2024
Type
SUMMARY

Subjects

More courses for PEARSON (PEARSON) > Economics A

£3.79
Get access to the full document:
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Get to know the seller
Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
erinhurst
4.6
(17)

Get to know the seller

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
erinhurst Barton Peveril College Eastleigh
View profile
Follow You need to be logged in order to follow users or courses
Sold
79
Member since
3 year
Number of followers
41
Documents
53
Last sold
6 months ago

4.6

17 reviews

5
11
4
6
3
0
2
0
1
0

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their exams and reviewed by others who've used these revision notes.

Didn't get what you expected? Choose another document

No problem! You can straightaway pick a different document that better suits what you're after.

Pay as you like, start learning straight away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and smashed it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions