(a) Technolgical developments result in an increase in the supply. It brings down the costs of production and raises the profits of the producers. This naturally provides incentives to them to increase the supply of their products. 

(b) Creeping inflation occurs when there is a sustained rise in price at a very slow rate of 2 to 3 percent per year. It is considered good of an economy. It is generally known as safe and essential for economic progress and growth. 

(c) Differences between demand deposits and fixed deposits: 

1. Interest rate on demand deposits is very low, whereas fixed deposits carry a higher interestrate. 

2. Demand deposits can be withdrawn at any time, whereas fixed deposits can be withdrawn only after the expiry of a specific period. 

(d) Regressive tax system: The rate of the tax increases upto a certain limit but after that a uniform rate is charged. It is a mixture of proportional and progressive tax system. 

(e) Simple Division of Labour: It is the system in which each individual takes up one specific job depending upon his ability and aptitude such as carpenter, dentists, etc. In this, the individual is responsible for whole job and remain less skilled. Therefore, more training period is required.