MYTUTOR SUBJECT ANSWERS

413 views

What is inflation?

We all know that in general that prices change: we see the price of fuel changing up and down as we see exchange rates. Inflation tries to capture this.

Inflation is defined as an increase in the general level of prices,  eroding the value of money.

Inflation is measured using the CPI and RPI indices and mathematically is the percentage change per annum in these price indices. 

Mrinank S. GCSE Chemistry tutor, GCSE Physics tutor, A Level Physics ...

9 months ago

Answered by Mrinank, a GCSE Economics tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

70 SUBJECT SPECIALISTS

£20 /hr

Noah C.

Degree: PPE (Bachelors) - Oxford, Magdalen College University

Subjects offered:Economics, Politics+ 4 more

Economics
Politics
Philosophy
Maths
Further Mathematics
.TSA. Oxford.

“Hi, I'm Noah. I'm currrently studying Politics, Philosophy and Economics (PPE) at Oxford university. I have always enjoyed teaching others and helping them learn, and my first experience with tutoring was several years of teaching str...”

£30 /hr

Jamie S.

Degree: Economics and Management (Bachelors) - Bristol University

Subjects offered:Economics, Maths

Economics
Maths

“I am a final year student at the University of Bristol, studying Economics and Management and am currently on track to achieve a 1st. I achieved an A* in Economics and an A in Maths A-levels as well as an A* at maths GCSE so would be ...”

£18 /hr

Stavria K.

Degree: Economics (Bachelors) - Lancaster University

Subjects offered:Economics, -Personal Statements-

Economics
-Personal Statements-

“ME: I am currently in my second year in Lancaster University; studying Economics BSc. I am always intrigued and passionate about Economics. As a social science, it explores human behaviour and it combines the theories of the optimal a...”

About the author

Mrinank S.

Currently unavailable: for new students

Degree: Engineering (Masters) - Cambridge University

Subjects offered:Economics, Physics+ 3 more

Economics
Physics
Maths
Further Mathematics
.PAT.
-Oxbridge Preparation-

“Hey there! I'm a second year undergraduate student at the University of Cambridge, studying Engineering. I am really passionate about using science and maths to make the world around us a better place.  I am a patient and friendly tu...”

You may also like...

Posts by Mrinank

Two identical uniform spheres each of radius R are placed in contact. The gravitational force between them is F. They are then separated until the force between them is one ninth of the magnitude. What is the distance between the surfaces of the spheres?

What is inflation?

Other GCSE Economics questions

What is the Marshall Lerner Condition?

What factors cause the shifts and movements of the demand curve?

What is a liquidity trap?

Evaluate the view that perfect competition is a more efficient market structure than monopoly.

View GCSE Economics tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok