Price Level

A price level is a hypothetical measure of overall prices for some set of goods and services, in a given region during a given interval, normalized relative to some base set. Typically, a price level is approximated with a price index.

Read more about Price Level:  Theoretical Foundation, Significance

Famous quotes containing the words price and/or level:

    One has to have run a household before one can know the price of rice and firewood, and one has to have raised children before one can understand a parent’s love.
    Chinese proverb.

    Architecture might be more sportive and varied if every man built his own house, but it would not be the art and science that we have made it; and while every woman prepares food for her own family, cooking can never rise beyond the level of the amateur’s work.
    Charlotte Perkins Gilman (1860–1935)