Essay on inflation/Rising prices in Pakistan with quotations

2nd year English smart syllabus essays has already been published in pdf. The students who are looking for separate essay on every topic can choose it from the list of essay for class 12. I have given here an excellent essay on Inflation/Rising prices in Pakistan. The essay is about 300 to 400 words and includes quotations and outline.

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Rising Prices / Inflation Essay 300 - 400 words

This essay is suitable for class 10 and class 12, 2nd year. The essay covers details about the recent inflation and rising prices in Pakistan. The essay topics has been given in 2nd year smart syllabus 2020.

Inflation essay for 2nd year, class 12 PDF download

Outline

1. What is inflation

2. Kinds of inlfation

3. Inflation in Pakistan

4. Causes of inflation

5. Effects of inflation on people

6. Govt's efforts and steps

7. Conclusion

Essay

Inflation is taxation without legislation - Milton Friedman

Inflation is defined as a rise in the prices of goods in a country that reduces the purchasing power of its citizens. Inflation is not altogether absent from any economy. It keeps on fluctuating. It remains normal as long as it does not surpass its threshold for a year. 

However, if it goes beyond the determined limit, inflation-crisis springs in a country. There are multiple kinds of inflation. Demand-pull inflation is caused when the demand for goods and supplies exceeds the supply available. As a result, the prices go high. Pricing power inflation occurs when firms increase the prices to gain larger profits from their goods and services.

Inflation is the crabgrass in your savings - Robert Orben

Excessive printing of currency notes also causes inflation because in it the available currency does not parallel with the supply available. International debts also push a nation to increase the prices to earn its expenditures. 

Inflation negatively results in the hoarding of goods, uncertainties in business and lower national savings. It also has social and political effects. Politically, higher inflation rates can earn the ruling party a bad reputation. Inflation highly affects the public opinion as to the ruling party. It is for the reason that in democracies inflation directly hits a common person. 

Inflation is the parent of unemployment and the unseen robber of those who have saved - Margret Thatcher

Any unexpected increase in the prices of basic necessities of life can enrage a layman and change his political views. Society also expects public demonstrations and protests if inflation continues to rise above determined levels. Inflation is beneficial only for inflators. 

At large it is dangerous for an economy if not regulated properly. In order to avoid inflation or to balance it, a state tries to create a balance between the goods and services produced and their demand. In Pakistan, excessive domestic demand outweighs the supply of services and goods available. 

Production is the only answer to inflation - Anonymous

When this phenomenon reaches a high stage, prices touch the skies. Factually, Pakistan was reported to have seen the highest inflation rate in the whole world in 2020. Conclusively, inflation is an important part of the economy. It needs to be regulated and causes dreadful impacts on the economy of a country if it remains unregulated.

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