Inflation: Inflation is the increase in prices of goods and services over time. It reduces the purchasing power of money as prices rise, making it challenging for individuals and businesses to afford essential items.
Unemployment: Unemployment occurs when people who are actively seeking employment cannot find jobs. This leads to a lack of income for individuals and reduced spending power, affecting both the economy and society as a whole.
National Debt: National debt refers to the total amount of money owed by a country's government due to borrowing over time. It can become an economic challenge if it reaches unsustainable levels, potentially leading to higher taxes or cuts in public services.