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:
“There are many things a man will do, but betrayal for a price is not one of yours.”
—Jules Furthman (1888–1960)
“On a level plain, simple mounds look like hills; and the insipid flatness of our present bourgeoisie is to be measured by the altitude of its “great intellects.””
—Karl Marx (1818–1883)