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Answers of all CBSE Class 12 Economics MCQs Multiple Choice Questions with Answers provided here with detailed solutions so that you can easily understand the logic Accounting Grade 12 Notes ; Economics Grade 12 Notes ; English First Additional Language (FAL) Paper 1 Grade 12 Notes ; English First Additional Language (FAL) Paper 2 Grade 12 Notes ; English First Additional Language (FAL) Paper 3 Grade 12 Notes ; Geography Grade 12 Notes ; Life Sciences Grade 12 Notes ; Mathematics Grade 12 Notes ; History Key concepts Measuring inflation (define, explain, examine) Types and characteristics of inflation The causes of inflation The consequences of inflation Measures to combat inflation Inflation occurs when there is a sustained and significant increase in the general price level over a period of time. Complete the following statements: Question. 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