Inflation affects all areas of life so I will say that the federal governments of all countries should join their heads to make the world a better place, as it is usually said that two heads are better than one. And I will add that, combination of ideas in the midst of decision making bodies will surely give out positive conclusions.
According to you, what are the major reasons behind the growing Inflation rate, specifically in your country?
Inflation can be defined as the total increase in the high cost of goods and services and causing the decease in the value of currency in a particular country, state or continent, which especially occur in countries.
Inflation can be cause by drought leading to the act of farmers not engaging in agricultural cultural cultivation of crops and animals.
Inflation can also be caused by the lack of the government, encouraging farmers to keep on the good work and continue their crop and live stock production. I advice that there always give subsidies to farmers like fertilizers, and some farming machineries to bust crop production in such a country.
- Inflation is really affecting my country in that, the price of petrol/fuel to power the cars and other vehicles that requires petrol to power it is very high and can not be easily afforded by individuals to transport their commodities from the farm to the market, there by causing the price of goods to be high. Transportation is one of the main factors that made the act of production complete, without the goods getting to the final consumer the act production has not been done.
Production can be defined as the creation of utilities or the creation of goods and services to satisfy human wants.
The factors of production are;
Land
Labour
Capital
Entrepreneur
Inflation can therefore reduce this factors from functioning.
Do you think that the increasing Inflation rates effect all the classes and fields of the life?
I think that the ongoing inflation in my country and other parts of the world can affect all classes and fields in the following ways;
Inflation affects both the rich and the poor, as a result of high cost of goods and services, it will make parents not to be able to chatter for their child's needs and this will also make it difficult to pay the school fees of the child, it may cause high rate of school dropping out of school in students in such a country.
It also makes life to become more worse for all classes, in that the increase in the value of commodities continue, but the salary remains the same for the working class so this will make life harder for the working class.
As a common citizen, how can we play our part to control the Inflation?
As common citizens who rely on the final say of our Supreme leader for final say we can assist in controlling inflation through the listed methods below.
Inflation can be controlled through industrialization. And the increase in the production of agricultural products.
Inflation can be controlled if parents reduce the amount of children that are been born in any country as will as my country especially.
So as to reduce the amount of birth rate in the country and also the world at large.
I now want to invite @josepha and @bonaventure24 and @goodybest and @ahmneska to participate in this week's contest schedule.
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