Economists Believe That a Little Bit of Inflation May Be

question 83

Essay

Economists believe that a little bit of inflation may be a good thing. What are the potential benefits of inflation?

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Definitions:

Raw Materials

Basic materials that are used in the production process to manufacture goods and products.

Manufacturing Costs

The total expenses involved in making a product, including materials, labor, and overhead costs.

Lot Ticket

A document prepared to show the movement of materials or products between departments. Also called move ticket.

Material Requisition

A document used to order material or supplies from the storeroom that provides the basis for charging material into production.