Reasons for the Development of Inflation Devices
Causes of Inflation
One of the primary causes of inflation is an increase in the supply of money in circulation. When a country's central bank prints more money, each individual unit of currency is worth less as the total money supply has increased. With more money available but the same amount of goods and services, prices tend to rise. Demand-pull inflation can also occur when aggregate demand increases in an economy faster than the productive capacity of the economy. More money is chasing the same amount of goods and services which causes prices to increase. Cost-push inflation arises when costs of production like wages, raw material costs, transportation costs increase. Businesses pass on these higher costs to consumers in the form of increased prices to maintain profit margins.
Different Types of Inflation Devices
There are a variety of Inflation Devices used for different purposes:
Gas Inflators: Gas inflators use pressurized gas like compressed air or CO2 to inflate objects. They are commonly used to inflate car tires, balls, inflatable toys, life jackets, etc. Manual and electric pumps are examples of gas inflators.
Electric Inflators: Electric inflators use an electric motor and fan to blow air into the object being inflated. They are more convenient than manual pumps as they do not require physical effort. Tire inflators installed in vehicles use electric motors.
Manual Pumps: Manual pumps use hand or foot operated pumps to transfer air from the atmosphere into the object. Bike pumps, ball pumps, raft pumps are everyday examples of manual pumps. They are inexpensive but require physical exertion to operate.
Compressed Gas Cylinders: High pressure gas stored in cylinders can be used for rapid inflation. Scuba tanks, fire extinguishers use compressed air/gas cylinders. Industrial applications involve inflating large structures very quickly. But these devices require refill of gas cylinders.
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