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In what way can inflation be controlled


Best Of The Best
Please in what way can inflation affect a country's economy and what possible way can it be controlled?


Best Of The Best
Inflation is a situation of continuous rise in prices, When there is too much money in circulation, people easily get much money by undertaking any form of economic activities during this hectic time or peroid in the economy of a country affected.

This means that people have enough money to spend. if there are enough goods and services will rise.

The degree of imbalance between supply and demand for the goods will determine the extent of rice in prices of these goods.

So in what ways can these inflation be controlled if you may ask?

Acute inflation is highly injurious to the economy of a country, Therefore, effective ways of controlling it is very necessary for the healthy growth of a nation's economy.

1, Control on prices of the essential commodities

Government can really set up boards in charge of controlling this rise and fall on prices of this essential commodities, the agency will be responsible of controlling and removing anybody found guilty of fixing the prices beyond the which it is illegal to sell these essential commodities.

2, There should an available increase in the production of the essential commodities and even distribution

If the production of essential goods is increased so as to meet the demand for goods and there is even distribution of these goods, inflation would be effectively checked

3, Government should make an effective control of wages and prices.