6:2 Inflation

When and where did I find this word: Again, I receive a million and one magazines through the mail and as well as the NCTE English Journal, I picked up the MONEY magazine and sifted through it on our trip down to Arcade to ride the train. The issue of MONEY is May 2011. The featured article discusses inflation and how to regulate it. First of all, the term inflation is whipped around like a kid with a balloon. Secondly, even though I have a vague idea of what inflation means, as I was reading about it, I found myself not really understanding the term at all. I wonder if others feel the same way about this. My question would be, can you explain to someone else what this word means? If you can, you know and understand the word. If you can't, then you don't know the word. In any event, I wanted to add this term to my vocabulary bank.

What this word means: This term refers to the general rise in prices connected to the increased volume of money and decreased value of currency.

Level of familiarity: I have seen this word beyond a hundred times throughout my educational career (including middle and high school). This term is often associated with Economics and social studies but as I have grown, I have come to realize that the term, though used for economics, describes the way we are currently viewing our country's level of stability. I can read a magazine (ie. MONEY) or the news and I will find this term somewhere in the posted articles.

Is this a word I want to know well?: I believe that whether or not I want to know this word well, it is an important word that should be known if one wants to survive in our day in age. The economy is very important for the survival of people and inflation isn't necessarily a positive term on the economic spectrum therefore the more people know and understand the term inflation, possibly the more ideas we can obtain to try and alleviate the pressures of it.

Is this a word I want others to know well?: Absolutely. The more people know and understand this term, the better off I think our economy will be. There will be more people trying to fix the problems associated with inflation so that our economy doesn't collapse and/or the value of our dollar doesn't diminish. Very important term.