Inflation that is usually associated with periods of trade boom is

Assessment: JAMB UTME - Economics - 2003 Subject: Economics

Question 1 Report

Inflation that is usually associated with periods of trade boom is
Answer Details
The inflation that is usually associated with periods of trade boom is called "demand-pull inflation." This type of inflation occurs when there is a high demand for goods and services in the economy, which leads to an increase in the general price level. During trade booms, businesses are producing more goods and services to meet the high demand, leading to an increase in the price of inputs such as labor and raw materials. This increase in input prices is passed on to the consumers in the form of higher prices, leading to demand-pull inflation.
Read lesson note on Money And Inflation (WAEC)
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