(Approximate reading length: 8 minutes) A lot of people realize an increase in price of a product they have purchased before. These increases can be on a larger area as well as a smaller one. On the other hand, for example, you might have seen a discount on older model laptops’ prices when a new one comes out. We use inflation concepts to explain these phenomenons. We will try to explain inflation and its concepts… "A GUIDE TO UNDERSTANDING INFLATION"