Inflation

Dear 5/6W,

Tonight your homework it to answer only one question!

The catch is….your answer will need to be summarised in a paragraph that you could explain to the 3/4’s next week.

The question is ‘What is inflation and how does it effect people in Australia’

Good luck!

Mr Williams028_armWrestle_OCT

24 comments

  1. Lucy

    Inflation is where the prices go up. For example, 50 years ago $1 could buy you something much better than it can today. All it can buy you today is a small, cheap plastic toy or a small lolly. But at the same to people’s pay from their work goes up. So in a way it’s even because people get more money and spend more money. It effects Australia because you have pay more for everyday essentials which is difficult particularly for the unemployed.

  2. georgenadi

    The word “Inflation” represents prices rising, for example maybe 20 years ago a box of strawberries was 5 bucks, well now it could be 7 or 8 depending on how fast the prices rise, but while prices rise people also get payed more money, but usually pay goes up slower than inflation, inflation is also bad for the unemployed

  3. Dean

    The word inflation means people get pay rises wich seems to be a good thing but really they lose money because prices rise more than salary (what people earn) . Not too long ago you money was worth a lot more than it is now so people need to make more money so prices go up.

  4. Sarah

    Inflation is where money prices go up so peoples pay has to go up aswell. Every year prices go up. The money inflation is going up a little bit at a time. If people in Australia don’t have a job, then they will be living a very hard life because they wouldn’t be able to buy as much food and water.

  5. Charlotte

    Inflation is where the prices go up. Each year usally prices go up by 10%. For example, you buy a lollipop for 50c. A year later, you go to the same shop and the price goes up 5c extra!
    Most people talk about the big products like cars or houses but it’s also little products like groceries. Inflation is much more of a bad thing than a good thing we need to change it.

  6. Savannah

    Inflation is when shop’s goods and services prices increase. Sometimes we are lucky and your pay from work would increase too. For example John is payed $10 a day and he would like to buy a banana, so he pays $2 for the banana and goes back to work. The next day, he is payed $10, like normal, then, he goes to buy a banana. Instead of paying $2 for a banana, he pays $3. Now his work should pay him $11 because the prices in goods and services are rising. But I don’t believe that’s all John buys with his $10, John might have to pay for his house rent, petrol and more food than just 1 banana so his pay could rise a lot more than $11.

  7. Harrison

    Inflation is when prices go up so peoples pay goes up. Say one year there was a lollie for 25 cents, a year later you went to the same shop to by the lollie but the lollie was 30 cents. Their is a reason that prices go up every year, the prices go up every year because their is less of that product or thing in the world.

  8. Albertl

    Inflation is when item prices increase and it is when we have to pay more money for things that aren’t even worth the price.

  9. Eliza

    Inflation is when all the prices go up so that every ones pay goes up. Pretend an apple was 35 cents in Coles and then the next year its 40 cents, that is what inflation is. The reason prices go up is because there is less of that certain product in the world.

  10. Mia

    inflation is where all the prices go up so every ones pay goes up.
    say that carrots were 20 cents at Coles and then the next year it would go up to 25 cents ans so on, then the price would go up each year.
    the reason prices go up each year is because there isn’t that much of that product in the world.

  11. Lachie

    The word Inflation means that prices are constantly rising and also people are getting pay rises which you might think is good when really it’s not that good at all because prices are rising faster then workers pay rises. Which means for people who don’t have a job, they can’t afford food and other things that they need to survive.

  12. gabby

    Inflation is when the prices go up so peoples pay goes up. Imagine a watermelon was 90 cents one year, than the next year it was a dollar. Peoples pay goes up so than they can buy what they need.

  13. liam

    inflation is where money prices go up and which means people have to pay more. Sometimes our pay goes up so we aren’t really paying much more than what we used to. The reason everything goes up is because there is less of that product

  14. Alana

    The word inflation is when prices of items go up and so peoples pay goes up. Each year the cost of items go up a little bit at a time.

  15. thomas23

    Inflation effects Australia because if you earn $100 a day and fuel is $10 of that. if fuel cost rises by 5% to $15 a day but income only rises by %1 you use more of your money on fuel.
    to $15 a day

  16. Thomas A

    Inflation is where resources and things get more expensive because the population is growing so more resources are being used. It affects Australia by shop owners putting their prices up but then people who are employed usually get payed more so it doesn’t really affect people much.

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