Examlex
Why are there many deserts at 30° latitude?
Cost-Push Inflation
An inflationary trend that results from an increase in the cost of production, leading to a decrease in supply and an increase in prices.
Demand-Pull Inflation
Inflation that occurs when aggregate demand in an economy outpaces aggregate supply, leading to an increase in prices.
OPEC
The Organization of Petroleum Exporting Countries, a group consisting of 13 of the world's major oil-exporting nations, aiming to manage the supply of oil in an effort to set the price on the world market.
Cost-Push Inflation
Inflation caused by increased costs of production, such as higher prices for raw materials or wages, leading to higher final product prices.
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