These essays have been written in The Lion King Rafiki and Simba shirt and easy to remember language to let you use them whenever required. The rising prices or price hike essay will give you an insight of reasons and effects of the price hike on general masses. Sweeping reforms are needed to control hoarders and reform agriculture in a way that price hikes for essential commodities don’t hit the common man where it hurts most – his wallet. It is up to the government to control hikes in prices so that the situation doesn’t become unbearable for ordinary citizens. When the prices of goods and commodities increase over a period of time in a sustained manner, the phenomenon is called inflation. It is measured in terms of an annual percentage change in a price index, which is normally the consumer price index.
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In simple terms, inflation means that your The Lion King Rafiki and Simba shirt power are reduced and a rupee doesn’t go as far as it used to. Therefore, when the value of money goes down and prices rise, you have inflation. While academics and economists haven’t agreed on one particular theory about the cause of inflation, they generally agree that certain factors are responsible for it. What they fail to see, however, is that inflation is necessary to and sometimes beneficial for the economy. They should focus on demanding that wages rise as inflation does so that their purchasing power isn’t affected negatively. Inflation by itself isn’t simply bad or good; the type of economy and people’s own circumstances determine whether it is one or the other. As a developing country with the second largest population in the world, India faces quite a few challenges. One of these is rising prices and it is by far the most immediate problem.
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