In some counntries, the cost of living is rapidly increasing. What do you think may be the reasons for this? What effects might this have on society?
Living costs in some countries are swiftly rising.
This
is because the inflation
rate is high. As a result
, the people
's buying power
is weakened. This
essay will discuss how it has become the main reason and how it affects society's purchasing power
.
Increased prices of goods and services are driven by inflation
. There are various reasons why inflation
happens such
as an unmanageable increase in the money supply. Indonesia in 1998 is an example of a country
where the living cost at that time rose greatly due to
inflation
. The nation was unstable, which created an economic crisis. Consequently
, primary, secondary, and even tertiary needs prices were unaffordable for some people
.
A remarkable and notable effect of inflation
is the purchasing power
of the people
is weakened. Still in Indonesia in 1998, low to middle-class economy people
could not afford basic food needs such
as eggs, potatoes, and rice due to
their prices in the market. The situation was forcing the seller to put an unreasonable price due to
stabilizing the economy and political situation at that period of time. Therefore
, only several groups of people
could afford to buy the things they need as a consequence
of inflation
or in other terms, it has lessened their purchasing power
. Another country
that had an experience with this
issue was Venezuela in 2022 with approximately three hundred per cent of inflation
rate.
In conclusion, maintaining the supply of money in a country
is crucial and indisputable; otherwise
, a country
will face the following problems such
as an economic crisis which affects the society's purchasing power
.Submitted by bram.admiral on
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task achievement
Your essay addresses the task effectively, providing reasons for the rapid increase in living costs and its effects on society. However, consider elaborating on additional factors contributing to inflation beyond just the increase in money supply to provide a more comprehensive response.
coherence cohesion
Your essay has a clear and logical structure with an introduction, body paragraphs, and a conclusion. However, work on smooth transitions between paragraphs to enhance the overall coherence and readability. For example, you can use phrases like 'Moreover,' 'Furthermore,' or 'In addition' to connect ideas more fluidly.
coherence cohesion
To improve coherence and cohesion, consider expanding and clearly distinguishing between the reasons for inflation and its effects on purchasing power. Also, add a few more linking words and phrases within paragraphs to guide the reader through your arguments more effectively.
task achievement
You provided relevant and specific examples, such as the economic crisis in Indonesia in 1998 and the inflation rate in Venezuela in 2022. This strengthens your argument and demonstrates a good understanding of the topic.
coherence cohesion
You have a clear introduction and conclusion, which helps to frame your essay well. The introduction effectively sets up the topic, and the conclusion provides a succinct summary of your main points.
Your opinion
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