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:

    “And is the price for your acceptance for me to conform? To be as you would want me to be?... You must accept me as I am. Do not question.... If my behavior seems different perhaps it is because it serves a higher purpose than to find acceptance in this dull and useless world.”
    —Pat Fielder, and Paul Landres. Dracula (Francis Lederer)

    “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)