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13 September, 09:03

If the cost of a typical market basket in 2019 is 400 and the cost of a typical market basket in 2020 is 390, then during this period the economy is undergoing:

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  1. 13 September, 09:19
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    If the cost of a typical market basket in 2019 is 400 and the cost of a typical market basket in 2020 is 390, then during this period the economy is undergoing deflation.

    To add, deflation is a contraction in the supply of circulated money within an economy, and therefore the opposite of inflation.
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