Distinguish Between Demand-Pull Inflation and Cost-Push Inflation

question 122

Essay

Distinguish between demand-pull inflation and cost-push inflation. Give an example of each.

---

Definitions:

Compulsory Arbitration

A mandatory process where disputing parties are required to resolve their differences through an arbitrator's decision, rather than through a court trial.

Collective Agreement

A written contract negotiated between an employer and a trade union, covering the terms and conditions of employment.

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, specifying the terms and conditions of employment.

Labour Relations Board

A governmental agency responsible for overseeing and enforcing labor laws and practices, including dispute resolution between employers and employees.