If inflation is anticipated, people may

Assessment: JAMB UTME - Economics - 2022 Subject: Economics

Question 1 Report

If inflation is anticipated, people may
Answer Details
If inflation is anticipated, people may choose to spend less money. This is because inflation reduces the purchasing power of money, meaning that the same amount of money can buy fewer goods and services. In response, people may decide to be more frugal with their spending, save more money, or look for ways to reduce their expenses. By spending less, they can try to maintain their purchasing power and avoid the negative effects of inflation.
Read lesson note on Money And Inflation (WAEC)
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