AS 91222 · 4 credits · External
Inflation analysis
Analyse inflation using economic concepts and models
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In plain EnglishAI study guide · check the NZQA standard
This standard asks you to explain what causes inflation and what impact it has on people and businesses in New Zealand, using economics models and concepts. You need to show you understand inflation by using the right economic models and explaining your thinking clearly—not just repeating what you've been told.
What to do, grades and common mistakes
What you actually do
- ·Use the AS/AD (Aggregate Supply and Aggregate Demand) model or the quantity theory of money to explain why inflation happens and show the shifts on diagrams correctly
- ·Explain the reasons why curves shift—for example, if consumption falls, explain that this decreases AD because consumption is a component of it
- ·Distinguish between related concepts like inflation, disinflation, and deflation, and use them accurately in context
- ·Explain how inflation affects different groups in the economy differently—such as why low-income earners are hit harder than high-income earners
- ·Use the resource material provided as a starting point but add your own economic reasoning—don't just repeat the information given
AAchieved
You show you understand inflation causes and impacts by using economic models correctly, shifting curves in the right direction with clear reasons, and explaining how inflation affects different groups in society.
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