price level
Noun 1. an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time (synonym) price index (hypernym) index, index number, indicant, indicator (hyponym) retail price index | ||||
Search Dictionary:
Price level definition was found in categories: Encyclopedia(1)
Price level Definition from Encyclopedia Dictionaries & Glossaries
| Wikipedia English - The Free Encyclopedia |
Price level
The price level is a kind of weighted average of the prices of all goods and services for an economy. A commonly used measure is a consumer price index, which is one particular type of price index. Price indexes are typically constructed to have a relative value of 100 (or 1.00) in a specific year called the base year.
| See more at Wikipedia.org... |