Kerem Barbaros
Bio
A Turkish youth struggling with difficult living conditions in Turkey and at the same time trying to study economics in such a bad economy.
Stories (3/0)
Deflation
What is deflation Deflation refers to a persistent decrease in the general price level of goods and services in an economy over time. In other words, it means that the prices of goods and services are falling, and the purchasing power of a unit of currency is increasing.
By Kerem Barbarosabout a year ago in Education
Inflation
What is inflation? Inflation refers to the sustained increase in the general price level of goods and services in an economy over time. It means that, on average, the prices of goods and services are rising, and the purchasing power of a unit of currency is decreasing.
By Kerem Barbarosabout a year ago in Education
Understanding Economics
Economics is a social science that studies how individuals, organizations, and societies allocate scarce resources to satisfy unlimited wants and needs. It is concerned with how people make choices about what goods and services to produce, how to produce them, and how to distribute them among different groups of people. Economics also examines how markets, institutions, and policies influence economic outcomes such as growth, employment, inflation, and inequality. Economists use a variety of methods, including mathematical and statistical analysis, to understand and explain economic phenomena.
By Kerem Barbarosabout a year ago in Education