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:
“How long most people would look at the best book before they would give the price of a large turbot for it?”
—John Ruskin (1819–1900)
“Alle fresh the level pasture lay,
And not a shadowe mote by seene,
Save where full fyve good miles away
The steeple towered from out the greene,”
—Jean Ingelow (1820–1897)