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The demand-pull theory of inflation states that inflation is caused by an increase in aggregate demand (AD) that exceeds the available supply of goods and services. This excess demand causes prices to rise. In other words, inflation is caused by too much money chasing too few goods.
Demand-pull theory
In economics, the demand theory is the theory that inflation occurs when the demand for goods and services exceeds the existing supply. According to the attraction of demand theory, there are a series of effects on innovative activity driven by changes in expected demand, in the competitive structure of markets and in factors that affect the evaluation of new products or the ability of companies to obtain economic benefits.
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Source: Demand-pull theory
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