Holiday in Al Wadi al Jadid – Al Wadi al Jadid Travel for increasing-cost industry: an industry characterized by increases in long-run average cost when firms are increasing their scale of operation. infant industry: a name given to new or recently formed industries made up of firms with (typically) higher unit costs than similar, more established firms producing the same good or service in other nations. inferior good: a good characterized by a negative relationship between purchases of that good and changes in consumer income. inflation: an increase in the average price of a group of goods and services. inflation rate: the percentage change (or growth) in the average price of a group of goods and services. Price indexes provide an approximation of the average price of a set of goods at a moment in time, whereas percentage changes in a price index approximate the inflation rate between periods. interest rate: the percentage of borrowed funds that must be repaid to a lender in exchange for the privilege of borrowing those funds. Holiday in Al Wadi al Jadid – Al Wadi al Jadid Travel 2016.