Business Structures and Indicators

This week we focused on business structures and business indicators. Business structures include sole proprietorship, partnerships and corporations. A sole proprietorship involves one person owning a business. They can keep the profit and set their own work schedule. A partnership is when two or more people a business together. This is nice, because one person who is good at math and business can keep the book while the other cooks, writes or does whatever the business is. Within a partnership, there are general, limited and limited-liability partnerships. A corporation is when many people own a business or own stock. This is good because the business gets many resources and has a good mixture of products. Business indicators have to do with GDP, inflation, standard of living...etc. GDP stands for Gross Domestic Product and it measures the market value of all goods produced in a given period. Inflation has to do with the increase in price of goods when there is a decrease of buying power. Standard of living is the material comfort one has with the goods and services available. 
All of these concepts related to each other. For the most part I understood the business structures, but had a challenging time understanding the business indicators. After reviewing and watching a few videos about GDP, standard of living, unemployment and such I understood some of this stuff more. However, the concept I am still stuck on is inflation. I've read the definition over and over and still don't quite get what it is or how it happens. I think i'm just looking for different and easier ways to explain it. I am determined and will keep trying.