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Inflation: Definition, Types, Causes & Effects

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which one is a type of inflation?

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1. When demand exceeds supply, what type of inflation has occurred?

2. What is inflation?

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About This Quiz & Worksheet

The following quiz and worksheet combination will determine your knowledge of inflation. During the quiz, you will be tested on the various types of inflation and their effects.

Quiz & Worksheet Goals

During the assessments, you will be tested on:

  • Effects of inflation
  • What happens to income when inflation occurs
  • Different types of inflation
  • The result when demand exceeds supply

Skills Practiced

  • Information recall - access the knowledge you've gained regarding inflation
  • Knowledge application - use your knowledge to answer questions about the effects of inflation
  • Critical thinking - apply relevant concepts to examine information about demand exceeding supply in a different light

Additional Learning

If you are seeking more information regarding inflation, please look at the lesson titled Inflation: Definition, Types, Causes & Effects. This lesson will cover these objectives:

  • Define inflation
  • Explore the different types of inflation
  • Explain the effect of inflation on money
  • Know how inflation impacts consumers
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