Fall of inflation: Disinflation and Deflation

Inflation is defined as the average change in the price of a basket of goods and services over time. Inflation is defined as a drop in the purchasing power of a country's currency unit. The topic of inflation is very important for the UPSC IAS exam Economy Syllabus.
For many UPSC hopefuls, economics can be an infernal topic. But this is a significant portion of the IAS prelims and mains test, and it can be found in GS paper 3. Economics is not necessarily a "boring" or "confusing" subject, and it may even be enjoyable to learn if you do it right. If you think about it, studying economics is essential to understanding how a country operates, so it is very necessary to learn the fundamentals of economics (whether you are aiming for the IAS or not). It also explains why some nations are developed while others are in the process of developing. You can also enjoy banking, business, services, agriculture, etc. with its aid. Economics also helps individuals make decisions in life because, at the atomic level, it deals with the allocation of resources. Here we present basic concepts of economy in a lucid form, presented by Pramod Sir.
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