inflation can be controlled by increasing

Assessment: WAEC SSCE - Economics - 2002 (Objective) Subject: Economics

Question 1 Report

inflation can be controlled by increasing
Answer Details
Inflation can be controlled by increasing aggregate supply. Aggregate supply refers to the total amount of goods and services that producers are willing and able to supply in an economy. When aggregate supply increases, it leads to a decrease in prices, which reduces inflation. This is because as the supply of goods and services increases, there is less pressure on prices to rise due to increased competition among producers. Therefore, increasing aggregate supply is one of the ways that governments can control inflation.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning