Examlex

Solved

Inflation Is an Economic Factor That Measures the Cost of Living

question 49

Multiple Choice

Inflation is an economic factor that measures the cost of living in an economy. Rapid rises in inflation affect marketing as they affect the prices of goods and services and also _______ the future value of savings, investments and pensions.


Definitions:

Intuitive Reasoning

The process of making decisions on the basis of what feels right or what is instinctively believed to be true without logical reasoning.

Symbolic Thought

The ability to use symbols, like words or images, to represent objects, actions, or ideas not physically present.

Concrete-Operational

A stage in Piaget's theory of cognitive development, typically occurring between ages 7 and 11, where children start thinking logically about concrete events.

Logical

Pertaining to a mode of reasoning or argumentation that is consistent, valid, and based on facts or established rules of reasoning.

Related Questions