WAEC Economics 2014 Objective — Question 33
Question 33 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
Advertisement
Which of the following best defines inflation?
- A. Cyclical increase in prices
- B. periodic increase in prices
- C. persistent increase in pricesCorrect
- D. Occasional increase in prices
Explanation
Inflation is the persistence, not just one-time, general increase in price level, not just the price of one commodity.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.