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:
“Cecil Graham: What is a cynic?
Lord Darlington: A man who knows the price of everything and the value of nothing.”
—Oscar Wilde (1854–1900)
“Children’s view of the world and their capacity to understand keep expanding as they mature, and they need to ask the same questions over and over, fitting the information into their new level of understanding.”
—Joanna Cole (20th century)