Question : Inflation is a situation characterised by
Option 1: too much money chasing too few goods
Option 2: too few money chasing too many goods
Option 3: too many people chasing too few goods
Option 4: too many people chasing too little money
Correct Answer: too much money chasing too few goods
Solution : The correct option is too much money chasing too few goods .
Two features of inflation are a sharp increase in prices and a decrease in the purchasing power of a currency. It may occur if there is a shortage of products and services and an excess of money in circulation, which would drive up prices elsewhere.
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