Wednesday, 13th December, 2017

Clear examples help hold on economics

11, Jul 2017 By shakeel ahmad

KANPUR: Chartered accountants remained on the centre of attention these days. Their accounting skills are widely known to everyone that’s why moneyed people rushed to them for the needful suggestion. However, this time a charter accountant got entangled into arguments with his own wife. Her simple question stunned him for a little time. The able expert did not fail to reply in his own uncomplicated style. Her ordinary query was: What is inflation in common expression?

Grasping her point the talented, efficient and qualified accounting professional stated: When we got married, you were hardly 22 years old with a body weight of 45 kilogrammes. Presently, you had attained an age of 33 years and your body weight increased to 75 kilogrammes. While earlier waistline increased from 18 inches to 37 inches. This was clearly visible through the measuring tape. He continued to say though you still possessed the similar old bodily features, unfortunately, the intrinsic value was no longer just the same. This was what called inflation in the economics wording.

Although the wife was well-educated and had even studied economics in her 12th class yet she seldom tried to simplify the principle of inflation in such an easier way. She very well perceived the classified meaning of the price-rise after so many years of her marriage. When she met her friends at a get-together she tested other ladies’ understanding of increase in the prices. She heard everyone’s answers but none contented her with the answers. She made them known the exact meaning of inflation. All of the women effortlessly understood the tough term’s sense. They said that the subject of economics was never so hard to comprehend if it is put in plain words. They agreed that they also disfavoured studying this subject though they never disliked studying Indian Economics. But they never accepted the theoretical microeconomics like sociology.