Appreciation and depreciation refer to changes in the value of a good or asset over time. Appreciation occurs when the price of a good or asset increases, while depreciation occurs when the price of a good or asset decreases.
For example, if the price of a good increases over time, it is said to be appreciated. Conversely, if the price of a good decreases over time, it is said to be depreciated. Appreciation and depreciation can be caused by a variety of factors, such as changes in supply and demand, economic conditions, and inflation.