# Economy

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<summary>Letter - D</summary>

**Deflation:** A generalized fall in prices. Deflation can happen due to crises, or due to a generalized increase in purchasing power.

**Desinflation:** When there is inflation, or rising prices, but this growth is decreasing, so each year inflation increases less.

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<summary>Letter - F</summary>

**Fiat:** A legal tender, which is a currency declared legal by the government, and its value is backed by the issuer (the government).

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<summary>Letter - H</summary>

**Hard Money:** A type of currency that is made up of or directly backed by a valuable commodity such as gold or silver.

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<summary>Letter - I</summary>

**Inflation:** A general increase in the prices of a sector, good or group of goods. Generally inflation is linked to the creation of money.

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<summary>Letter - Q</summary>

Quantitive Easing: Creation of money or "IOUs" (bank reserves) that is used to buy assets.

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<summary>Letter - S</summary>

**Scarcity**: Limit on the quantity that is produced of a certain good or service.

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